Direct Lender for Fix & Flip Investors

Advest Financial is a Pennsylvania based private lender.  We provide short-term hard money loans to residential real estate investors in PA, NJ, and NY.  We are self-funded, allowing us to efficiently fund your project using 100% of our own capital.  Obtaining a loan from Advest is straightforward and fast.  You will deal directly with the decision makers.

Rehab Fix & Flip Loan Program

  • Term: Up to 12 Months
  • Loan Amount: $200,000 – $1,500,000
  • Total Loan Amount: Up to 70% ARV
  • Interest Rate: 10% – 14%
  • Origination Fees: 2% – 3%
  • Property Types: Residential
  • Occupancy: Non-owner Occupied

Property Geographic Area Details

Philadelphia, New Jersey, New York City

Loan Amounts

$200,000 to $1,500,000

Interest Rates

10% to 12%

Max Loan-To-Value

70.00%

Max Loan-To-Cost

85.00%

Origination Fees

1.5% to 2.5%

Loan Terms

3 months to 12 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Improve Subject Property

Property Occupancy

  • Vacant

Property Types and Loan Types

Collateral Types

  • Residential Property

Property Types

  • 2-4 Units Residential
  • Condominium
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Fix and Flip
  • Residential Rehab and Rent

Purchase Loan

Max Loan-To-Purchase Price

85.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash

Rehab Value Add Loan

Advest's loan program offers financing for up to 85% of the purchase price + up to 100% of the renovation costs, not to exceed 70% of the after repair value.

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100.00%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

5

Maximum After Repair Value

70.00%

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

5

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

Will lend to a foreign national

no

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

no

Will Consider Collateralizing Multiple Properties in One Loan

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • LLC
  • Limited Partnership

Documentation Required

  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

620

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Fees

Legal Fee

Legal Fee is paid by the borrower. Fixed amount. Usually $1,500.

Inspection Fee

$350 inspection fee for each draw.

Appraisal Fee

Cost of ordering the appraisal. If there is renovation work, there will be an as-is and after repair value appraisal.

Fees which are mandatory for all new borrower clients

  • Appraisal Fee
  • Background Check Fee

Fees which are charged upfront prior to loan closing

  • Legal Fee
  • Appraisal Fee
  • Title Fee
  • Background Check Fee

Fees which are paid to a third party company

  • Legal Fee
  • Appraisal Fee
  • Title Fee

Additional Details

We charge a one-time fee of $150 for new borrowers. This helps offset the cost of a background check and a credit check. There are no other application fees.

Advest Financial is a private lender located in the suburbs of Philadelphia.  Before forming Advest, the management team has participated in many private real estate transactions and has experience managing all aspects of structuring, financing, and evaluating investment properties.

As a private lender, we lend capital to real estate investors who value our fast, common-sense approach.  Our focus is to build loyal customer and broker relationships through trust, transparency, and personalized service.

 

Company Size (Number of Employees)

3

Year Established

2019

Office Locations

Advest Financial
41 University Drive - Suite 400, Newtown, Pennsylvania 18940

Primary Capital Source

  • Own Funds
  • Debt Fund We Manage

Loan Structure for Majority of Loans

  • Own Balance Sheet

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Fix and Flip

70%

Percentage of Residential Property Loans Which are Ground-Up Construction

30%

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
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At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

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Requested loan amount divided by the purchase price + rehab/construction costs

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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Requested loan amount divided by the purchase price + rehab/construction costs

%

If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

acres

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