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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
yesMax 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
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
- Seller Financing
- Crowdfunding
- Family
Rehab Value Add Loan
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
1Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100.00%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
2Construction Loan
Development Experience Required
yesMinimum Number of Ground-Up Construction Projects Completed by Borrower
1Max LTC for Ground-Up Construction Costs
90.00%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
yesDetails and Requirements
Typical Closing Time (Days)
14Fastest Closing Time (Days)
2Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Pre Payment Penalty
yes
3 MonthsWill lend to a foreign national
no
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
yesWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
no
Borrower Entity Types Considered
- LLC
Appraisal Required for Residential Property
SometimesAppraisal Required for Commercial Property
SometimesBroker Price Opinion (BPO) Accepted for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
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 02170111 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 MarketMichael 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 2002Michael (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.