info@alfieloans.com 828-776-8632

FAQ (Frequently Asked Questions)

How fast can my loan close?
  • If approved, a loan can close as soon as one week after ALFIE receives fully completed paperwork, which will include, but not be limited to, an acceptable valuation report, title report and application.
How much can I borrow on my loan?
  • ALFIE generally makes loans in the $50,000 to $5,000,000 range
Do you require collateral other than Real Estate?
  • Our loans are secured by first mortgages only investment property that is not going to be occupied by the borrower or their immediate family. A personal guaranty will be required.
How do I apply for a loan?
  • Click here to send us your information. You may also give us a call at 828-776-8632.
Will ALFIE lend to a LLC, LP or Corporation?
  • Yes, we will lend to a legal entity as long as the principal(s) of the entity have sufficient credit history and will personally guaranty the loan.
What documents will I need in addition to the application?
  • Documentation varies depending on loan request.
What are the loan terms?
  • Length of loans can be from 3 months to 24 months.
  • 3 month minimum interest payment
  • Current interest rate is 10.75%
Do you lend on purchases only, or would you lend on a refinance?
  • ALFIE lends money for both purchases and refinances
Will ALFIE provide proof of funds letter?
  • Yes, a proof of funds letter is available after the borrower has been qualified. The proof of funds letter will be contingent upon further review of the borrower's situation and our independent valuation of your potential collateral.
Can I pay off my loan before the maturity rate?
  • Yes, ALFIE loans do not carry prepayment penalties or fees. You are permitted to pay off your loan at any time so long as the three month minimum interest payment has been made.
How do I calculate the origination fees (points)?
  • Lender's costs are covered by a fee, charged to the borrower, in the range of 2% to 3% of the loan amount, based on the length of the loan. Origination charges may, at borrower's request, be added to the amount of the loan and financed by lender.