Up to $5 million ($10 million for exceptionally well qualified sponsors)
ORIGINATION FEE
1% to 2% annualized
LOAN MATURITIES
6 to 12 months
TYPES OF LOANS
Purchase and refinance
TYPES OF PROPERTIES
Non-owner occupied SFR, multifamily, multi-unit, or mixed-use
LIEN POSITION
First
GUARANTY STRUCTURE
Full recourse (corporate guaranty considered)
PREPAYMENT PENALTY/YIELD MAINTENANCE
None
INTEREST RATES
7.0% – 10.0% interest only, fixed or floating
LOAN TO VALUE/COST
Up to 80% LTC
LOAN AMOUNTS
Up to $5 million ($10 million for exceptionally well qualified sponsors)
ORIGINATION FEE
1% to 2% annualized
LOAN MATURITIES
6 to 12 months
TYPES OF LOANS
Purchase and refinance
TYPES OF PROPERTIES
Non-owner occupied SFR, multifamily, multi-unit, or mixed-use
LIEN POSITION
First
GUARANTY STRUCTURE
Full recourse (corporate guaranty considered)
PREPAYMENT PENALTY/YIELD MAINTENANCE
None
INTEREST RATES
7.0% – 10.0% interest only, fixed or floating
LOAN TO VALUE/COST
Up to 70 - 75% LTC
LOAN AMOUNTS
Up to $5 million ($10 million for exceptionally well qualified sponsors)
ORIGINATION FEE
1% to 2% annualized
LOAN MATURITIES
6 to 24 months
TYPES OF LOANS
Purchase and refinance
TYPES OF PROPERTIES
Non-owner occupied SFR, multifamily, multi-unit, or mixed-use
LIEN POSITION
First
GUARANTY STRUCTURE
Full recourse (corporate guaranty considered)
PREPAYMENT PENALTY/YIELD MAINTENANCE
None
INTEREST RATES
7.0% – 9.0% interest only, fixed or floating
LOAN TO VALUE/COST
Vertical: up to 70% LTC (No Land or A&D)
LOAN AMOUNTS
Up to $5 million ($10 million for exceptionally well qualified sponsors)
ORIGINATION FEE
1% to 2% annualized
LOAN MATURITIES
6 to 24 months
TYPES OF LOANS
Purchase and refinance
TYPES OF PROPERTIES
Non-owner occupied vertical SFR or multifamily
LIEN POSITION
First
GUARANTY STRUCTURE
Full recourse (corporate guaranty considered)
PREPAYMENT PENALTY/YIELD MAINTENANCE
None
INTEREST RATES
7.0% – 8.0% interest only, fixed or floating
LOAN TO VALUE/COST
Up to 70 - 75% LTV (Min. 1.20x DSCR)
LOAN AMOUNTS
Up to $5 million ($10 million for exceptionally well qualified sponsors)
ORIGINATION FEE
1% to 2% annualized
LOAN MATURITIES
Initial term 12 months (extendable out to 24 months)
TYPES OF LOANS
Purchase and refinance
TYPES OF PROPERTIES
Non-owner occupied SFR or multifamily
LIEN POSITION
First
GUARANTY STRUCTURE
Full recourse (corporate guaranty considered)
PREPAYMENT PENALTY/YIELD MAINTENANCE
None
Minimum Initial Underwriting Documentation
Full financial underwriting
2 months bank statements
2 years of tax returns and/or financial statements (income statement & balance sheet)
Evidence of successful experience and appropriate infrastructure in specific product type strategy
Appropriate sponsor liquidity and potential covenant requirements
Net-worth greater or equal to loan amount
Subject to additional underwriting
FICO score of 680+
Geographic Markets: Genesis Capital is primarily focused on projects located in MSA's of 250,000+ in the following states: AZ, CA, CO, FL, GA, NC, SC, TX, UT, WA (Other states will be project and sponsor specific)
Not currently originating loans for the following types of properties: Micro-Housing, Co-Living, Manufactured Homes, Short-Term Rentals, and Land/Horizontal
