Altaloans

Flexible and Creative Hard Money Loans in Florida

Alta loans is a Miami-based private lending firm that offers creative short-term loans secured by many types of properties in Florida. We can get creative with our loan structures and have the ability to fund hard money loans that most other lenders cannot.

Purchase and Refinance Bridge Loans
Fix & Flip Loans
Ground-Up Construction Loans
Cross Collateral considered
2nd Mortgages (behind bank loans)
NO Prepayment Penalty for short-term loans
Remote Online Closings for foreign nationals

Please note that we do not consider owner-occupied homes.

Property Geographic Area Details

Florida

Loan Amounts

$75,000 to $7,500,000

Interest Rates

8.99% to 11.5%

Loan Terms

12 months to 36 months

Origination Fees

1% to 1.5%

Lien Position

1st, 2nd

What we do:

Fast & Flexible Hard Money Loans

Residential & Multifamily properties

Many types of commercial properties

DSCR Long-Term Rental Loans

What we don’t consider:

100% Financing

Gap Funding

Owner-Occupied Homes

Loans for personal, family or household use

Credit Check Required

yes

For short-term bridge loans, we do check credit but are not concerned about the score. For DSCR long-term rental loans, a FICO score of 680+ is required.

Prepayment Penalty

yes

No prepayment penalty for short-term bridge loans. Prepayment penalty only applies to DSCR long-term rental loans for residential and small multifamily properties.

Typical Closing Time (Days)

Maximum Leverage

Purchase Short-Term (no Value-Add)

Max LTP Residential: 75%

Max LTP Multifamily: 75%

Max LTP Commercial: 70%

Max LTP Land: 65%

Purchase Long-Term

Max LTP Residential: 85%

Max LTP Multifamily: 80%

Refinance Short-Term (no Cash Out)

Max LTV 1st Lien Residential: 70%

Max CLTV 2nd Lien Residential: 65%

Max LTV 1st Lien Multifamily: 75%

Max CLTV 2nd Lien Multifamily: 65%

Max LTV 1st Lien Commercial: 70%

Max CLTV 2nd Lien Commercial: 70%

Max LTV 1st Lien Land: 65%

Refinance & Cash Out Short-Term

Max LTV 1st Lien Residential: 70%

Max CLTV 2nd Lien Residential: 65%

Max LTV 1st Lien Multifamily: 70%

Max CLTV 2nd Lien Multifamily: 65%

Max LTV 1st Lien Commercial: 70%

Max CLTV 2nd Lien Commercial: 65%

Max LTV 1st Lien Land: 65%

Refinance Long-Term

Max LTV Residential: 80%

Max LTV Multifamily: 75%

Residential Fix & Flip

Max LTP: 85%

Max LTC: 100%

Max LTARV: 75%

Residential Rehab & Hold

Max LTP: 85%

Max LTC: 100%

Max LTARV: 75%

Multifamily Value-Add

Max LTP: 75%

Max LTC: 80%

Max LTARV: 70%

Commercial Value-Add

Max LTP: 70%

Max LTC: 75%

Max LTARV: 65%

Residential Construction

Max LTP Land: 80%

Max LTC: 85%

Max LTCV: 75%

Multifamily Construction

Max LTP Land: 70%

Max LTC: 75%

Max LTCV: 70%

Commercial Construction

Max LTP Land: 70%

Max LTC: 75%

Max LTCV: 70%

Property Types

2-4 Units Residential
Adult Day Care
Assisted Living Facility
Auto Dealership
Auto Repair
Bed and Breakfast
Car Wash
Child Day Care
Commercial Condominium
Commercial Land
Community Center
Condominium
Cooperative
Golf Course
Healthcare
Hospital
Hostel
Hotel
Industrial
Manufactured Home
Marina
Mixed-Use
Mobile Home
Mobile Home Park
Motel
Multifamily
Office
Parking Garage
Parking Lot
Portfolio of Commercial Properties
Portfolio of Residential Properties
Residential Land
Retail
School
Single Family Residence
Sports Facility
Storage Facility
Student Housing
Vehicle Parking

Loan Types

Private Money
Hard Money
Residential Bridge
Residential Fix and Flip
Residential Rehab and Rent
Residential Owner-Occupied
Multifamily Bridge
Multifamily Rehab
Commercial Bridge
Commercial Property Value Add

Specialty Loan Types

Residential Long-Term Rental
Residential Short-Term Rental

Junior Lien Loan Amounts

$75,000 to $750,000

Junior Lien Interest Rates

11.99% to 14.99%

Junior Lien Loan-to-Value

65%

Junior Lien Origination Fees

1.5% to 5%

We Fund Junior Position Loans

Rarely

Junior Lien Types

Refinance
Equity Cash Out

Max Loan-to-Purchase Price

90%

Borrower Must Have Property Under Contract

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 Another Investment Property
Seller Financing
Gap Lender
Family

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

Maximum After Repair Value

75%

Minimum Loan Amount

$85,000

Maximum Loan Amount

$5,000,000

Minimum Interest Rate

5.99%

Maximum Origination Fee

Minimum Loan Term

360 months

Maximum Loan Term

480 months

Minimum Credit Score

620

Will Lend on a Portfolio of Properties

Yes

Minimum Property Value

$125,000

Minimum Loan Amount

$350,000

Maximum Loan Amount

$2,500,000

Minimum Interest Rate

7.99%

Maximum Origination Fee

Minimum Loan Term

12 months

Maximum Loan Term

360 months

Minimum Debt Service Coverage Ratio

1.00

Minimum Credit Score

680

Maximum Number of Units

Underwriting Fee

$1495

Legal Fee

$1,200 Attorney Fee

Minimum Origination Fee Amount

$1,000

Details and Requirements

Fastest Closing Time (Days)

Payment Structure

Interest Only
Amortized

Will lend to a foreign national

yes

We lend to a lot of foreign nationals and even allow them to sign documents remotely.

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

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

Borrower Entity Types Considered

LLC
Corporation

Documentation Required

Credit Report

Personal Guaranty (Recourse) Required

Sometimes

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Broker Price Opinion (BPO) Accepted for Commercial Property

Collateral Types

Residential Property
Commercial Property

Loan Purpose

Investment Acquisition
Investment Refinance
Improve Subject Property
Value Add Project
Development Project

Property Occupancy

Vacant
Tenant Occupied 100%

Contact Altaloans

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

786-882-XXXX

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Altaloans was founded by mortgage industry veterans who combine 40 years of experience in active broker origination, TPO lending in agency, non-QM, and bridge products, capital markets, and full-scale mortgage operations. These skills enable us to perfectly understand the needs of mortgage brokers and partners. We thrive on our partners’ success and the delivery of the best service.

License

NMLS ID 2427649

Company Size (Number of Employees)

Year Established

2022

Associations

FAMP - Board Member

Office Locations

20200 W Dixie Hwy, Suite 1104, Aventura, Florida 33180

Primary Capital Source

Own Funds
Family Offices
Bank Credit Line

Loan Structure for Majority of Loans

Own Balance Sheet
Table Funding with Capital Partner
A/B Note Participation with Bank

Percentage of Loans Secured by Commercial Property

Percentage of Loans Secured by Residential Property

95%

Total Number of Loans Funded to Date

240

Total Loan Volume Funded to Date

$60,000,000

Our Team

Danil Tesenin

President

Constantin Anosov

CFO

Contact Altaloans

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

786-882-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 Altaloans

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

786-882-XXXX

Click to show phone number

Send email Visit Website

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