Fast, Pain-Free Lending From a Local Boston Based Private Money Company

Capital-LineFunding (CLF) is a locally based direct lender, lending in Boston and the surrounding areas. Typically, we lend 85% of acquisition cost and 100% of construction cost, no credit checks, no bank statements, no taxes, closing in 14 days or less. We typically can do a walk through and term sheet within 24 hours. When you need a draw you can text us and we’ll be there typically within 24 hours and can wire your funds within 24 hours of inspection. Our goal is to cater to our borrowers so we can work together and both make money as smoothly and as quickly as possible.

CLF offers loans for Fix & Flip, Cash Out, and Acquisitions. Residential properties must be non-owner occupied and held in an LLC.

Property Geographic Area Details

Massachusetts, New Hampshire, Rhode Island

Loan Amounts

$150,000 to $5,000,000

Interest Rates

12% to 13%

Max Loan-To-Value

85.00%

Max Loan-To-Cost

90.00%

Origination Fees

2% to 3%

Loan Terms

6 months to 24 months

Lien Position

  • 1st

Loan Purpose

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

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Auto Repair
  • Commercial Condominium
  • Commercial Land
  • Condominium
  • Gas Station
  • Hotel
  • Industrial
  • Manufactured Home
  • Mixed-Use
  • Motel
  • Multifamily
  • Parking Lot
  • Residential Land
  • Retail
  • Single Family Residence
  • Storage Facility

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Commercial Ground-Up Construction
  • Residential Ground-Up Construction
  • Mezzanine

Specialty Loan Types

  • Land Development
  • Condo Conversion
  • Partner Buyout
  • Foreclosure Bailout
  • Primary Residence Business Purpose Cash Out
  • Subdivisions

Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land

Will Consider Land That is NOT Entitled

yes

Max LTV for Land

65.00%

Max LTC for Land Acquisition

70.00%

Purchase Loan

Max Loan-To-Purchase Price

90.00%

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
  • Seller Financing
  • Crowdfunding
  • Family

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

1

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

2

Construction Loan

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

1

Max LTC for Ground-Up Construction Costs

90.00%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

14

Fastest Closing Time (Days)

2

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

yes

3 Months

Will lend to a foreign national

no

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

no

Borrower Entity Types Considered

  • LLC

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Deposit Required

$1,500.00 to $1,500.00

Processing Fee

$995

Extension Fee

WE NEVER CHARGE EXTENSION FEES

Appraisal Fee

Borrower pays directly to appraiser if necessary. Typically only need on loans over $350,000

Renovation Construction Draw Fee

Per Draw $250

Minimum Origination Fee Amount

$5,000

Fees which are mandatory for all new borrower clients

  • Deposit
  • Renovation or Construction Funds Draw Fee

Fees which are charged upfront prior to loan closing

  • Deposit

Fees which are paid to a third party company

  • Appraisal Fee

Additional Details

We only charge $995 fee if the loan closes, other than that just a typical closing, $250 draw fee includes is pretty standard.

Capital-LineFunding (CLF) is a locally based direct lender, lending in Boston the surrounding areas. Don’t torture yourself with national lenders, we typically can do a walk through and term sheet within 24 hours of a call, both owners of CLF are Boston born and raised.  We were local borrowers for many years before we started lending, so we know the needs of being a borrower. When you need a draw you can text us and we’ll be there typically within 24 hours and typically wire your funds within 24 hours of inspection.  Our goal is to cater to our borrowers so we can work together and both make money as smoothly and as quickly as possible.

Year Established

2014

Office Locations

665 Hancock Street, Suite 2, Quincy , Massachusetts 02170

111 Boston Post Road, Suite 212, Sudbury, Massachusetts 01776

Primary Capital Source

  • Own Funds

Alternative Capital Sources

  • Friends & Family

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Multiple Lender Participation
  • A/B Note Participation with Private Investor

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Commercial Property

20%

Percentage of Loans Secured by Residential Property

80%

Percentage of Residential Property Loans Which are Fix and Flip

50%

Percentage of Residential Property Loans Which are Buy and Hold

30%

Percentage of Loans Secured by Land

5%

Total Number of Loans Funded to Date

121

Total Loan Volume Funded to Date

$72,000,000

2017 Number of Loans Funded

40

2017 Loan Volume Funded

$19,300,000

Michael Garrity

Managing Partner

20 Years in the Boston Market

Michael is the operating partner for CLF. Michael has been in the Boston real estate market for over 20 years. Our goal is to provide the best possible lending services to local borrowers.

Michael Philbin

Co-Founder

Boston Developer since 2002

Michael (Mick) Philbin is a co-founder of CLF but his passion is developing. Mick oversees construction budget approvals, draw inspections and works directly on all deals involving permitting, variances and zoning opinion letters.

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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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

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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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