Loan Programs

ALFIE OVERVIEW


Basic Loan Terms:

  • Loans limits from $100,000 - $10M
  • Term can be from 9 months to 36 months with possible renewal
  • 3 month minimum interest period
  • Current interest rate less than 1M = 11% and more than 1M = 10% on funds drawn
  • Minimum borrower cash contribution 20-25% down
  • Alfie funds 100% of build cost for Spec home loans


Max Lending Limits:

  • Up to 65% LTV/ARV or 75% cost whichever is less for improved properties (Non Owner Occupied properties only)
  • Up to 50% LTV/LTC on Land Acquisition/Development (Alfie & AND Loans are limited)
  • Up to 50% Equity Cash Out Loans on Improved Investment Real Estate

Spec Home Loans:

  • 100% Construction financing 
  • Borrower to own lot free and clear 
  • 9 or 18 month term with 3 month minimum interest 
  • Super fast underwriting and approval process 
  • Simple quick construction draw inspection and funding


We want our
borrowers to succeed!

Spec Home Construction

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"It seems that you must not need money to be able to borrow from a retail bank. Even with a strong track record and good credit scores, we were unable to move ahead because our loan didn’t fit into a standardized box that the bank was used to.  ALFIE worked with me to get my project done and then they assisted me to get refinanced in a timely manner."

- Steve Rotundo, Johnson City, TN