Smarter Loans for Residential Investors™

Center Street Lending is a direct private hard money lender for residential real estate investors. We are personally invested in each and every loan. We deliver easy transactions that are competitively priced and swiftly executed. Above all we are committed to our customers’ success because when they succeed it’s good for everyone. We offer 4 loan programs: Fix & Flip, Rental, Bridge, New Construction.

Please note: We do not offer loans secured by owner-occupied homes or commercial real estate.

Property Geographic Area Details
Nationwide except AK, DE, ID, MN, NV, ND, SD, UT, VT
Loan Amounts
$100,000 to $40,000,000
Interest Rates
9.00% to 12.50%
Loan Terms
6 months to 24 months
Origination Fees
0.50% to 2.00%
Lien Position
1st
Collateral Types
  • Residential Property
Loan Purpose
  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Development Project
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial

Maximum Leverage

Purchase Short-Term (no Value-Add)
Max LTP Residential: 75%
Max LTP Multifamily: 75%
Purchase Long-Term
Max LTP Residential: 80%
Max LTP Multifamily: 75%
Refinance Short-Term (no Cash Out)
Max LTV 1st Lien Residential: 70%
Max LTV 1st Lien Multifamily: 70%
Refinance & Cash Out Short-Term
Max LTV 1st Lien Residential: 65%
Max LTV 1st Lien Multifamily: 65%
Refinance Long-Term
Max LTV Residential: 80%
Max LTV Multifamily: 75%
Residential Fix & Flip
Max LTP: 90%
Max LTC: 90%
Max LTARV: 75%
Residential Rehab & Hold
Max LTP: 90%
Max LTC: 90%
Max LTARV: 75%
Multifamily Value-Add
Max LTP: 85%
Max LTC: 85%
Max LTARV: 75%
Residential Construction
Max LTP Land: 60%
Max LTC: 80%
Max LTCV: 65%
Multifamily Construction
Max LTP Land: 60%
Max LTC: 80%
Max LTCV: 65%

Fix & Flip Program Criteria

To get a Fix and Flip loan started you will need:

  • 3+ Fix & Flips completed in the last 24 months

  • A 650+ minimum score

  • $100,000 up to $2,500,000 non-owner occupied property

  • 2 months of recent bank statements

  • Score and background check

 

Rental Property Program Criteria

To get a Rental Property Loan started you will need:

  • A minimum of 1 stabilized rental property for 12 months

  • A 650+ minimum score

  • $150,000 up to $2,500,000 non-owner occupied property

  • 2 months of recent bank statements

  • Score and background check

 

Bridge Program Criteria

To get a Bridge Loan started you will need:

  • A minimum of 1 stabilized property in the last 12 months

  • A 650+ minimum score

  • $150,000 up to $2,500,000 non-owner occupied property

  • 2 months of recent bank statements

  • Score and background check

 

Ground Up Construction Program Criteria

To get a Ground Up Construction loan started you will need:

  • 1 Ground Up Construction project in the last 24 months or equivalent experience

  • A 680+ minimum score

  • $250,000 up to $2,500,000 non-owner occupied property

  • 2 months of recent bank statements

  • Score and background check

  • Detailed budget of total costs

Property Types

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

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction
  • Residential Long-Term Rental
  • Multifamily Bridge
  • Multifamily Rehab

Specialty Loan Types

  • Condo Conversion
  • Luxury Homes
  • Residential Long-Term Rental
  • Subdivisions
  • Vacation Rental

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 Another Investment Property
  • Seller Financing
  • Gap Lender

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

90%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

4

Maximum After Repair Value

75%

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

1

Max LTC for Ground-Up Construction Costs

80%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Minimum Loan Amount

$100,000

Maximum Loan Amount

$3,000,000

Minimum Interest Rate

6.99%

Minimum Origination Fee

1%

Minimum Loan Term

360 months

Maximum Loan-To-Value

80%

Seasoning Time

6 months

Minimum Debt Service Coverage Ratio

0.75

Minimum Credit Score

650

Will Lend on a Portfolio of Properties

No

Minimum Property Value

$100,000

Minimum Loan Amount

$375,000

Maximum Loan Amount

$3,000,000

Minimum Loan Term

360 months

Maximum Loan Term

360 months

Seasoning Time

6 months

Minimum Debt Service Coverage Ratio

1.14

Minimum Credit Score

650

Maximum Number of Units

10

Fees which are mandatory for all new borrower clients

  • Processing Fee
  • Appraisal Fee
  • Escrow Fee
  • Title Fee

Fees which are paid to a third party company

  • Settlement Fee
  • Appraisal Fee
  • Escrow Fee
  • Title Fee
  • Extension Fee
  • Renovation or Construction Funds Draw Fee
  • Other Fee

Details and Requirements

Typical Closing Time (Days)

14

Fastest Closing Time (Days)

7

Payment Structure
  • Interest Only
  • Amortized
  • Interest Reserve
Maximum Units for Multifamily Properties

20

We are very comfortable with bridge loans and rehab loans for multifamily properties up to 10 units. We can go up to 20 units but will be extra selective.

Pre Payment Penalty

no

Will lend to a foreign national

yes

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

yes

Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Self-Directed IRA
Documentation Required
  • Credit Report
  • Bank Statements
  • Financial Statements
  • Loan Application
Personal Guaranty (Recourse) Required
Always
Credit Check Required

yes

Minimum Credit Score Required

650

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Additional Details

Feasibility Fee, GC Review

Center Street Lending Testimonials

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Center Street Lending, a leading direct hard money lender in Southern California recently hit a major milestone: $5 Billion in total originations since the company launched in 2010. 

Our management team has been involved in the financing of real estate since 1992 and has financed billions of dollars of residential real estate. We offer flexible underwriting and attractively priced loans. If you are a residential real estate investor, we would welcome the opportunity to provide you with a loan for your next investment purchase and to become your preferred lender. Center Street Lending is a private money portfolio lender that provides business-purpose loans for single-family and multi-family investments.

Vision: Help customers prosper and communities flourish.

Mission: Optimize customer success and build trusted partnerships. Provide lending solutions to our residential real estate investors-customers to help them succeed and together rebuild quality residential neighborhoods that we can both be proud of.

Why: We are excited about working with real estate entrepreneurs. Every property purchase and renovation reflect a piece of the American Dream to our clients and the communities they serve. We add value beyond lending by openly sharing our knowledge and resources. We want our customers to have every opportunity for success because when they succeed, communities win.

License

CFL #D60BO57755, CA DRE Lic #01883377, NMLS ID 905781, AZ MBL #0930263, OR Lic #ML-5838, MLD1180

Company Size (Number of Employees)

80

Year Established

2009

Office Locations

Center Street Lending
8201 Von Karman Ave # 400, Irvine, CA 92612

Primary Capital Source
  • Own Funds
  • Debt Fund We Manage
  • Family Offices
  • Other Private Lending Companies
  • Bank Credit Line
  • Private Equity Funds
  • Friends & Family
Alternative Capital Sources
  • Own Funds
  • Bank Credit Line
  • Crowdfunding
Loan Structure for Majority of Loans
  • Own Balance Sheet
  • Multiple Investor Fractionalized Note
Percentage of Loans Secured by Residential Property

100%

Total Number of Loans Funded to Date

3,000

Total Loan Volume Funded to Date

$5

Our Team

Stephen Couig

CEO

CA DRE Broker Lic. - 01905020

Jared Reyes

Chief Sales Officer

Erik Brown

Senior Vice President of Lending

CA DRE Lic. - 02004427

Justin Wollmershauser

Senior Loan Origination Manager

Jeremiah Wiedman

Vice President of Lending

Todd William Harris

Senior Vice President of Lending

Joe Claffey

Loan Origination Manager

Ryan St. John

Senior Loan Origination Manager

Tanner Podres

Loan Origination Manager

Michael Price

Loan Origination Manager

Courtney Johnston

Loan Origination Manager

Jesy Perez

Loan Origination Manager

Kara Armstrong

Loan Origination Manager

Wendell Butler

Loan Origination Manager

Eric Morhaim

Loan Origination Manager

Contact Center Street Lending

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

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BEFORE YOU CONTACT THIS LENDER

Our Minimum Loan Amount Is

$100,000

What We Do

  • Residential Investment Properties Only
  • Bridge, Fix & Flip, Rental, Construction
  • Up to 90% Loan-to-Cost
  • 10%+ Cash Required for Flip Purchase
  • 650+ Credit Score Required

Not Available

  • 100% Financing
  • Commercial Properties
  • Owner-Occupied Homes
  • Junior Liens or Gap Funding

Send an email to Center Street Lending