Questions investors ask

Long Hall Financial is a funding solutions company: we arrange funding for your deal and stay your point of contact from first call to payoff. Your loan documents name the lender; Tyler can walk you through them.

Tyler can walk you through this. Call 408-459-8133.

Tyler can walk you through this. Call 408-459-8133.

Your closing documents name your servicer. Once your loan closes, payoffs and extensions are requested from your Long Hall account, and Tyler stays your contact.

Check a state on the map. We do not lend on property in Arizona, California, Idaho, Minnesota, Nevada, North Carolina, North Dakota, Oregon, South Dakota, Utah or Vermont. Some places inside states we do lend in are out too. Florida: Lee, Charlotte, Sarasota and Collier counties not available; Maryland: Baltimore City not available for rental loans. If your property is close to one of those lines, call Tyler at 408-459-8133.

No. The borrower must be an LLC or a corporation, in good standing in its home state and in any state where it does business. These are business-purpose loans for investment property.

No. Every loan is for a property you will not live in: an investment property that is rented, or one you will renovate and sell.

Yes, on rental loans, with a valid passport and visa (the Visa Waiver Program is accepted). Leverage is lower: up to 65% on a purchase and 60% on a cash-out refinance, and you show 12 months of reserves.

For rental loans, no experience is required. For Fix & Flip, first-time investors qualify at the first experience tier with a credit score of 680 or better, a light rehab (no more than 25% of the price and $100,000), a property in a market you already know, and a projected return of at least 30%. Ground-up construction needs prior ground-up projects: 1–2 for a standard loan. A multifamily bridge needs an experienced sponsor.

On Fix & Flip loans the minimum is 660, or 680 for borrowers at the lowest experience tiers. Lower scores, down to 600, are considered case by case. Rental loans need a mid-score of 660 or better, and ground-up loans 680. A bankruptcy or foreclosure must be at least 4 years old on a Fix & Flip loan and 3 years old on a rental loan.

Up to 90% of the purchase price and 100% of the rehab, capped at 70% of the after-repair value (75% for the strongest deals). Standard loans run up to $1,000,000 ; larger loans need an underwriter pre-screen. Where you land depends on your experience tier and credit, so run the estimator with your own numbers.

On a loan below $100,000 , interest is charged on the whole loan from day one. On a loan at or above that amount, interest is charged only on the money you have drawn.

A Fix & Flip loan is interest-only for 12 months, or 18–24 months for additions, conversions and accessory dwelling units. An extension of up to 50% of the term is available for a fee. There is no prepayment penalty.

Rental loan amounts run $75,000 – $2,000,000, over a term of 30 years, fixed or adjustable, with interest-only options. Leverage reaches 80% of value on a purchase or rate-and-term refinance and 75% on a cash-out refinance, by credit. The property has to cover its payment: the minimum DSCR is 1.05 , and the credit minimum is 660. No income documents are needed.

Yes, with a Portfolio Rental loan. One loan can cover 2–10 properties, with at least $50,000 allocated to each, a minimum property value of $72,000, occupancy of at least 90% and a loan of up to $2,000,000. Read about Portfolio Rental loans or apply online.

Yes. Ground-up loans run from $50,000 to $1,000,000; larger loans, up to $3,000,000, are reviewed case by case by Tyler. They finance part of the land plus the construction. Tell Tyler about your project or apply online.

A short loan on a finished property that needs no renovation money: new, fully renovated, or livable as it stands. You buy or refinance the property, then sell it or move it to a long-term rental loan. Loans run from $50,000 to $1,000,000; larger loans, up to $3,000,000, are reviewed case by case by Tyler. Leverage reaches 90% of cost and 70% of value, for 12 months. A property that needs repairs belongs on Fix & Flip. Tell Tyler about your deal or apply online.

One long-term rental loan on 2–10 rental properties in the same state, for an LLC or corporation buying them, refinancing them or taking cash out. Loans run up to $2,000,000, with at least $50,000 on each property, and reach 80% of value. The properties together need a 1.05 DSCR on in-place rents, at least 90% of the units occupied, and guarantors with a 660+ mid-score; the loan is full recourse. Sell one property and release it from the loan by paying 1.2 times its share. Tell Tyler about your deal or apply online.

A multifamily bridge loan is for experienced owners buying a building of more units than our one-to-four unit programs cover: $2,000,000 to $5,000,000, up to 75% of the purchase price and 70% of the stabilized value, purchases only with no cash-out. Tell Tyler about the building.

Mixed-use properties, buildings over the unit limit for the program, condotels, co-ops, manufactured homes, commercial properties, log homes, oil and gas leases, leasehold properties, farms and ranches, vacation or seasonal rentals, luxury or unusual properties and properties on unpaved roads are not eligible. Rural properties are not allowed on rental loans, and non-warrantable condos are not eligible on either program.

Yes, with the full chain of contracts and an arm's-length sale. The assignment fee can be up to 20% of the price on a Fix & Flip loan and 10% on a rental loan. Finder fees are not allowed.

Not within 90 days of purchase. After that, and through 180 days, you need a statement of completed work. Cash-out leverage reaches 75% of value, by credit.

Rates, points and fees come from a personalized quote once Tyler has seen your deal. The calculators take your own assumptions, and a rate you enter there is an assumption, not a quote.

Timing depends on the appraisal, title and how quickly documents come in. We do not publish a turnaround time yet; once we have seen your deal we will give you a realistic estimate.

A tri-merge credit report is ordered after you authorize it, as a soft credit inquiry.

Sometimes. An appraisal can be transferred only when all of these are true:

• The value is under $1,000,000.
• The property has no more than 4 units.
• It was ordered through an appraisal management company.
• Its effective date is within 60 days.
• You have a signed transfer letter from the original lender.
• You have the XML file, a paid invoice and the AIR certificate.

An appraisal transfer is arranged for a fee.

You will if the loan is over $1,000,000 (over $500,000 in New Jersey and New York, over $2,000,000 in Hawaii). Your own attorney issues the letter.

Credit and background are ordered after you authorize them, and the appraisal is ordered automatically. Underwriting reviews the file, terms are agreed, documents and insurance are collected, and then the loan closes. See the seven stages.

For a flip: the purchase contract, a personal financial statement, your track record, a scope of work, entity documents with a recent Certificate of Good Standing, permits or an architect letter where they apply, and a payoff letter and settlement statement on a refinance. For a rental: bank statements, leases, the tax certificate and entity documents. Each program page lists exactly what to have ready.

We can tell you what is required and when, but we cannot advise you on what to buy. Every loan needs property coverage and a flood zone check, with flood coverage where the property is in a flood zone. General liability is required at no less than $1,000,000 per occurrence on a Fix & Flip loan, $1,000,000 on a ground-up loan and $500,000 on a rental loan; your program's checklist shows the aggregate options. Rental loans also need business interruption coverage. Certificates and paid invoices are due a day before closing, and the final policy within sixty days after closing. You can accept an insurance proposal that meets the program's requirements, or use your own agent with an ACORD binder.

List line items by trade, material or building system, not room by room, at full value even if you are financing only part of it. Split electrical, plumbing and HVAC into rough and finish so the rough work can be reimbursed earlier. Soft costs, demolition and contingency are each capped at 10% of the budget, and 25% together.

Draws reimburse completed work after it is verified from live photos. Each draw moves through seven tracked stages that you can follow, an inspection and processing fee is netted from each wire, and the last funds release when the property is ready to sell or rent.

From your Long Hall account. For a payoff, give the good-through date and say if you need it rushed. For an extension, choose how long you need and tell us your insurance company. Tyler follows every request.

The owners pledge their ownership of the borrowing company to the lender as extra collateral. You keep control and distributions unless the loan defaults, you cannot sell or transfer the company while the loan is open, and the pledge is released at payoff. This is not legal advice; review it with your attorney.