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!
Multi-Family/Commercial Construction
"Our 120 unit, former hotel complex already had bookings scheduled when we came to ALFIE for financing. They were able to structure a loan around our needs for construction prioritization and were not bound by the demands of an underwriter that is unfamiliar with our area."
-Venerable Pannavati, Hendersonville, NC
ALFIE does not provide loans on owner occupied residential properties, second homes or properties occupied / rented to family members.
