We are currently offering rental loans for the following property types

• • Single family residence
  • 2 – 4 unit properties
  • Townhouses
  • Multifamily 5 – 10 units
  • Short Term Rentals (Airbnb/VRBO)

• Application
• Photo ID
• Bank Statement/Money Market/Brokerage Account to Show Liquidity
• Schedule of Real Estate Owned
• Entity Documentation
• Current Lease (if applicable)
• Insurance Information

Other documents may be requested based on the individual circumstances and collateral.

LendSimpli can lend in most states. We may not be able to lend if the property is in a rural area, which makes comparable property analysis a difficult task. We require three recent comparison properties within 3 miles.

The rates for the LendSimpli rental loans start from 7.00%. The only up front costs are for a background check and appraisal costs. The appraisal costs are paid directly to the third party appraisal management company from the borrower.

The following types of properties are eligible for our bridge loans:

• • Single family residence
  • 2 – 4 unit properties
  • Multifamily 5 – 20 units
  • Condominiums
  • Townhouses

• Application
• Photo ID
• Purchase Agreement
• Itemized Rehab Budget & Schedule, if applicable
• Bank Statement/Money Market/Brokerage Account to Show Liquidity
• Proof of Experience, if applicable
• Entity Documentation

Other documents may be requested based on the individual circumstances and collateral.

No. There is no prepayment penalty on our bridge loans.

Each project is underwritten separately and most of or projects are funded between 10% – 12% with 1 – 3 points charged at closing. These rates are a function of local market conditions, the loan to value ratio, and the scope of the rehab. Once you submit a project, your underwriter will be able to give you a clearer indication of expected rates.