AccoLend

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%

Loan Terms

6 months to 18 months

Lien Position

1st

Collateral Types

Residential Property
Commercial Property

Loan Purpose

Investment Acquisition
Investment Refinance
Use Equity to Invest in Another Property
Development Project

Property Occupancy

Vacant
Tenant Occupied 100%

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

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

We can fund up to 85% of purchase price for a fix & flip project, but for ground-up construction projects, we will fund up to 75% of the purchase price.

Max Loan-to-Purchase Price

85%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

Own Cash
Partner
Equity in Subject Property
Equity in Another Investment Property
Crowdfunding
Family

Experience Required

Minimum Number of Value-Add Projects Completed by Borrower

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

85%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

Maximum After Repair Value

75%

We required a minimum credit score of 600 for ground-up construction projects.

Development Experience Required

Minimum Number of Ground-Up Construction Projects Completed by Borrower

Max LTC for Ground-Up Construction Costs

75%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

Minimum Loan Amount

$100,000

Maximum Loan Amount

$10,000,000

Minimum Interest Rate

5.99%

Maximum Interest Rate

7.75%

Maximum Origination Fee

Minimum Loan Term

36 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

80%

Maximum Loan-To-Purchase

80%

Minimum Debt Service Coverage Ratio

1.00

Will Lend on a Portfolio of Properties

Minimum Property Value

$125,000

Maximum Property Value

$12,500,000

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

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 paid to a third party company

Legal Fee
Appraisal Fee
Inspection Fee
Credit Report Fee

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Payment Structure

Interest Only
Amortized

Pre Payment Penalty

Will lend to a foreign national

yes

Must be legal

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will 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

Always

Credit Check Required

yes

Credit 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 Funding

Appraisal Required for Commercial Property

Do Not Lend on Commercial Property

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

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.

Contact AccoLend

AccoLend pays us to be listed, so there is no fee to connect with them directly.

201-241-XXXX

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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)

Year Established

2016

Associations

American Association of Private Lenders

Office Locations

310 Cedar Lane, Suite 3A, Teaneck, New Jersey 07666

Primary Capital Source

Own Funds

Alternative Capital Sources

Own Funds

Loan Structure for Majority of Loans

Own Balance Sheet

Our Team

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

Jatin Babaria

Contact AccoLend

AccoLend pays us to be listed, so there is no fee to connect with them directly.

201-241-XXXX

Click to show phone number

Send email Create a Loan Request

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates

Contact This Lender

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201-241-XXXX

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