Property Geographic Area Details

Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, Ohio.

Loan Amounts

$50,000 to $1,500,000

Interest Rates

9% to 12%

Max Loan-To-Value

90%

Max Loan-To-Cost

90%

Origination Fees

1.5% to 3.5%

Loan Terms

12 months to 360 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
Minimum Occupancy Percentage

0%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Commercial Land
  • Mixed-Use
  • Multifamily
  • Office
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Commercial Property Value Add
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction
  • Residential Long-Term Rental

Specialty Loan Types

  • Residential Long-Term Rental

Details and Requirements

Typical Closing Time (Days)

7

Fastest Closing Time (Days)

4

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
  • Corporation

Documentation Required

  • Credit Report
  • Bank Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

600

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Processing Fee

Renovation Construction Draw Fee

150

Fees which are charged upfront prior to loan closing

  • Appraisal Fee

Fees which are paid to a third party company

  • Legal Fee
  • Appraisal Fee
  • Title Fee

Year Established

2018

Office Locations

Coastal Equity Group
15 State Street, Charleston, South Carolina 29401

Primary Capital Source

  • Private Equity Funds

Alternative Capital Sources

  • Own Funds
  • Individual Investors
  • Single Capital Partner

Loan Structure for Majority of Loans

  • Own Balance Sheet
  • Table Funding with Capital Partner

Alternative Loan Structures

  • Table Funding with Capital Partner

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Commercial Property

10%

Percentage of Loans Secured by Residential Property

80%

Percentage of Residential Property Loans Which are Fix and Flip

80%

Percentage of Residential Property Loans Which are Ground-Up Construction

20%