Loan Programs

ALFIE OVERVIEW


Basic Loan Terms:

  • Loans limits from $100,000 - $8M
  • Term 12 months to 24 months with renewal options
  • 3 month minimum interest period
  • Current interest rates between 10-12% on funds drawn
  • Minimum borrower cash contribution 20-30% down
  • ALFIE funds up to 100% of construction cost for Speculative home loans. Borrower must own lot free and clear.
  • Quick construction draw processing
  • Underwriting in less than 2 weeks
  • Typical closing in 3 to 4 weeks or less


Max Lending Limits:

  • Improved properties: up to 65% LTV (Loan to Value) or 70-80% LTC (Loan to Cost) whichever is less (Non Owner Occupied properties)
  • Unimproved properties: Up to 50% LTV/LTC on Land and Acquisition/Development.

 

We focus on building community and working diligently with borrowers to help their projects reach completion. When our borrowers succeed, our neighborhoods and towns succeed. We SUCCEED together.

Multi-Family/Commercial Construction

Pannavati1192

"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