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!

Speculative Construction

KevinKerr1074

"We have found commercial banks to be very limited in their ability to finance our spec homes. ALFIE’s underwriting process is decisive and quick.  Overall, they are far cheaper and easier than taking on equity partners, so I get to keep all the profit myself."

-Kevin Kerr, Asheville, NC