At Borrowers Capital, we prioritize speed and efficiency. We can close your fix-and-flip loan in as little as 1-2 days, ensuring you receive the necessary funds without delay. Closing times may vary depending on the specific product and are influenced by the investor's organization and responsiveness.
Our draw process is simple and efficient. We provide you with a link to upload photos of the property, and once we receive the required documentation, funds are typically released within 1 business day.
Yes, you can include closing costs in your loan to better manage your cash flow. However, Ternus' fees cannot be rolled into the loan amount.
Our loans typically range from $50,000 to $500,000, depending on the loan product and your qualifications. Through our partnerships with institutional lenders, we can also offer loans up to $10,000,000.
No, we do not offer loans for mobile homes, RV parks, or manufactured homes. Our focus is on site-built residential properties used for real estate investment purposes, and we do not lend to owner-occupants or individuals.
We have a broad coverage area and are continuously expanding. However, we currently do not offer loans in California, Arizona, Nevada, Oregon, New Hampshire, and a few other states.
We offer competitive rates based on your timeline and loan type. For fast closings, our fix-and-flip loans start at 12%. If you're willing to wait a couple of weeks and go through the appraisal process, we can offer rates in the sixes for a 30-year rental loan.
To request a loan extension, reach out to our customer service team before your loan term ends. We'll gather some necessary documentation, assess your project, and require a plan from you. Additionally, we’ll conduct a property inspection through a remote text link that we’ll send.
The due date for your first payment depends on the loan product. Generally, it’s due on the first day of the month after your closing date. Be sure to review your loan documents carefully for specific details.
We ask for recent proof of funds or other liquidity sources, dated within 60 days of the loan origination, to ensure you can cover project expenses. This includes having enough cash to manage your payments and fund renovations between draws.
