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Direct Private Hard Money Lender for Residential Investment Properties in 40 States
Fix & Flip | Ground-Up Construction | Long-Term Rental Loans
Accolend is a direct lender that offers NO POINTS loans and rates from 7.5% to 9.5%. We are backed by institutional capital and we pass our lower cost of capital to our borrowers. Our underwriting process is fast, efficient and transparent.
WHAT WE OFFER:
- Asset Based Loans: 75-85% of purchase price and 75-85% of the renovation budget
- Property Types: Single Family, Condos, 2-4 Units, Multifamily and Mixed Use
- Ground up construction
- Rental Loans with rates from 4.99%
- Joint Venture Program for qualified investors
We close loans in 3-7 business days, we don’t have minimum FICO score and all processing and underwriting is done by our team in-house.
Please note: we do NOT offer 100% financing, and our minimum loan amount is $125,000.
Property Geographic Area Details
Nationwide EXCEPT 10 States: AK, AZ, CA, MN, NV, ND, OR, SD, UT, VT. Property must be in an urban or suburban area. We do not consider rural properties, ranches or farms.
Loan Amounts
$125,000 to $10,000,000
Interest Rates
7% to 10%
Max Loan-To-Value
75.00%
Max Loan-To-Cost
85.00%
Loan Terms
6 months to 18 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Use Equity to Invest in Another Property
- Development Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
Property Types and Loan Types
Collateral Types
- Residential Property
- Commercial Property
Property Types
- 2-4 Units Residential
- Mixed-Use
- Mobile Home
- Mobile Home Park
- RV Park
- Single Family Residence
- Student Housing
Loan Types
- Private Money
- Hard Money
- Residential Bridge
- Residential Fix and Flip
- Residential Rehab and Rent
- Residential Ground-Up Construction
- Residential Long-Term Rental
Specialty Loan Types
- Condo Conversion
- Residential Long-Term Rental
- Transactional Funding
Purchase Loan
Max Loan-To-Purchase Price
85.00%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
yesAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Subject Property
- Equity in Another Investment Property
- Crowdfunding
- Family
Rehab Value Add Loan
Experience Required
noMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
85.00%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
4Maximum After Repair Value
75.00%Construction Loan
Development Experience Required
noMinimum Number of Ground-Up Construction Projects Completed by Borrower
0Max LTC for Ground-Up Construction Costs
75.00%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
noResidential Long-Term Rental
Minimum Loan Amount
$100,000Maximum Loan Amount
$10,000,000Minimum Interest Rate
5.99%Maximum Interest Rate
7.75%Maximum Origination Fee
1%Minimum Loan Term
36 monthsMaximum Loan Term
360 monthsMaximum Loan-To-Value
80.00%Maximum Loan-To-Purchase
80.00%Minimum Debt Service Coverage Ratio
1.00Will Lend on a Portfolio of Rentals
NoMinimum Property Value
$125,000Maximum Property Value
$12,500,000Details and Requirements
Typical Closing Time (Days)
8Fastest Closing Time (Days)
2Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
- Amortized
Pre Payment Penalty
no
Will lend to a foreign national
yes
Must be legalWill Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
noWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
yes
We will consider joint ventures for Flip or Construction projects in only 5 states: NJ, NY, CT, MA, PA. Borrower must have completed at least 5 successful projects. Click the Loan Programs tab for more details.Borrower Entity Types Considered
- Individual(s)
- LLC
- Limited Partnership
- Corporation
Documentation Required
- Credit Report
- Tax Returns
- Bank Statements
- Loan Application
Personal Guaranty (Recourse) Required
AlwaysCredit Check Required
yesCredit Check Description
We pull credit but no minimum FICO score required for fix & flip projects. For ground-up construction projects, the minimum FICO score is 600, and 620 minimum for 30-year rental loans.Appraisal Required for Residential Property
Always Before FundingAppraisal Required for Commercial Property
Do Not Lend on Commercial PropertyBroker Price Opinion (BPO) Accepted for Residential Property
NeverBroker Price Opinion (BPO) Accepted for Commercial Property
NeverFees
Legal Fee
Depending on location and deal complexity
Inspection Fee
For Rehab/Construction. $250 for regular rehab.
Background Check Fee
For pulling OFAC Personal and Criminal Background Reports
Appraisal Fee
Depends on property type. Paid directly to appraisal company
Renovation Construction Draw Fee
150
Fees which are mandatory for all new borrower clients
- Legal Fee
- Appraisal Fee
- Inspection Fee
- Credit Report Fee
- Background Check Fee
Fees which are charged upfront prior to loan closing
- Credit Report Fee
Fees which are paid to a third party company
- Legal Fee
- Appraisal Fee
- Inspection Fee
- Credit Report Fee
Additional Details
We do not charge origination fees. In addition to bridge, fix & flip and construction loans, we also offer long-term financing for long-term rental loans. For those long-term loans, we give borrowers the option to pay 1 point to buy down the interest rate. We charge a fee of $1,900 to cover OFAC personal and criminal background review ($150), legal, servicing set up, wire and mail.
Fix & Flip or Fix & Hold
- Interest Rate (APR): 7% to 10%
- Origination Points: None
- Loan-to-Purchase Price: Up to 75%-85%
- Loan-to-Costs: Up to 75%-85% of rehab costs
- Loan-to-After Repair Value: 65-70%
- Experience Preferred but not required
- Credit Requirement: No minimum FICO Score
- Property Types: SFR, Multifamily, Condo, Mixed use
- Occupancy: Non-owner occupied only
- Loan Size: $100K to $10M
- Loan Fees: $1,900 plus Appraisal
- Loan Term: 12 months (extensions available)
- Typical Closing Time: 3 to 7 days
Ground-Up Construction Projects
- Interest Rate (APR): 9% to 10%
- Origination Points: None
- Loan-to-Purchase Price: Up to 75%
- Loan-to-Costs: Up to 75% of constructio costs
- Loan-to-After Repair Value: 65-70%
- Experience Required
- Credit Score: 600 minimum
- Property Types: SFR, Multifamily, Mixed Use
- Occupancy: Non-owner occupied only
- Loan Size: $150K to $10M
- Loan Fees: Depends on deal complexity
- Loan Term: 12 to 18 months (extensions available)
- Typical Closing Time: 5 to 15 days
Long-Term Rental Loans
- Interest Rate (APR): 5.99% to 7%
- Origination Points: None required, but can buy down the interest rate by paying 1 point
- Loan-to-Value: Up to 80%
- Experience not required
- Credit Requirement: 620 minimum
- Property Types: SFR, Condo, 2-6 Units Multifamily
- Occupancy: Tenant Occupied
- Loan Size: $100K to $10M
- Loan Fees: $1,900 plus Appraisal
- Loan Term: 360 months (5/1, 7/1, 10/1 ARM)
- Typical Closing Time: 15 to 30 days
Joint Ventures for Flip & Construction Projects
- Only Offered in 5 States: New Jersey, New York, Connecticut, Massachusetts, Pennsylvania
- Experience Required: Must have completed 5 successful deals as the direct sponsor
- Property Types: SFR, Condo, Multifamily, Mixed-Use
- Deal Size: $250K to $10M
- Soft Costs: We fund 100% of soft costs
- Hard Costs: We fund 100% of hard costs
- Profit share to investor: 55% of Net Profit
- Profit share for AccoLend: 45% of Net Profit
- Credit Requirement: No minimum credit score
- Occupancy: Vacant – only for flip and construction projects
- Term: 6 to 18 months
- Fees: There are small monthly fees investors will have to pay; contact us for more details
AccoLend is a private lender located in Teaneck NJ offering fast hard money loans for fix and flip, ground-up and joint ventures. No points, no prepay penalties and fast funding.
Company Size (Number of Employees)
13
Year Established
2016
Associations
- American Association of Private Lenders
Office Locations
310 Cedar Lane, Suite 3A, Teaneck, New Jersey 07666Primary Capital Source
- Own Funds
Alternative Capital Sources
- Own Funds
Loan Structure for Majority of Loans
- Own Balance Sheet
Alternative Loan Structures
- Own Balance Sheet
Percentage of company’s lending business focused on private mortgage
100%
Company’s Other Business Activities Besides Private Mortgage Lending
- Residential Mortgage Banking
- Residential Real Estate Investing
- Real Estate Development
2017 Loan Volume Funded
$100,000,000
2018 Loan Volume Funded
$200,000,000

Boris Grinberg
Manager

Robert Newman
COO

Brandon White
Loan Origination

Isaac Koyfman
Legal Counsel

Andrei Plamadeala
Head of Underwriting

Ken Gardner
Underwriting

Benson Cherian
Underwriting

Jackie Gorman
Underwriting

Margo Lobanova
Servicing

Dan Bryan
Accounting

Hector Santiago
Sales
