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MoFin Lending

MoFin Lending, based in New York, is a private lender specializing in short-term bridge loans for commercial and residential investment properties across 34 states. They offer transparent fee structures and focus on investment acquisition and refinancing without servicing owner-occupied homes or land. Their loans range from $100,000 to $10 million.

Direct Lender for Real Estate Investors

MoFin is a direct hard money lending firm offering short-term bridge loans secured by commercial real estate and residential investment properties in 34 states. We are upfront and fully transparent with our fees, terms, requirements, and time to close. Our process is all online and you can close at a location most convenient for you.

Please note: we do NOT offer loans for land, rural properties, or owner-occupied homes.

Details and Requirements

Property Geographic Area Details

MoFin lends in 34 states: AL, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, MD, MA, MI, MS, MO, NE, NH, NJ, NY, NC, OH, PA, RI, SC, TN, TX, VA, WA, WV, WI, WY.

Loan Amounts

$100,000 to $10,000,000

Interest Rates

11% to 16%

Origination Fees

2.5% to 4%

Loan Terms

12 to 36 months

Lien Position

1st

Credit Check Required

yes

Credit Check Details

For commercial 620+ only. For bridge residential 600 - 619 with compensating factors or 620+ without exception.

Minimum Credit Score Required

620

Prepayment Penalty

yes

Prepayment Penalty Details

For bridge or hard money loan there is no prepayment penalty on 12 month terms. 18+ month terms may have a 6 month prepayment penalty.

Typical Closing Time (Days)

21

Fastest Closing Time (Days)

9

Payment Structure
  • Interest Only
  • Amortized
Payment Structure Details

Interest only

Personal Guaranty (Recourse) Required
Always
Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Limited Partnership
  • Corporation
Documentation Required
  • Credit Report
  • Bank Statements
  • Loan Application
Appraisal Required for Residential Property

Always Before Funding

Appraisal Required for Commercial Property

Always Before Funding

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will lend to a foreign national

no

Borrower must be a permanent resident alien and have a valid social security number.
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Equity Joint Venture

no

Collateral Types
  • Residential Property
  • Commercial 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
Property Occupancy
  • Vacant
  • Tenant Occupied 100%

Additional Details

We charge a $299 Application Fee. Upon signing the Term Sheet, the borrower will be asked to pay a $299 Application Fee to cover certain costs associated with processing and underwriting the loan. The fee is refundable, less our expenses incurred. The terms and conditions of the Application Fee and underwriting in general are explained in the Term Sheet, which is provided when the borrower is pre-qualified.

Legal Disclaimer

The terms and rates quoted herein do not constitute an offer to lend. They are provided here for educational or informational purposes only. This profile provided, and any proposal initially made, by MoFin relies on the truth and accuracy of certain information provided by the Borrower. All terms and conditions are subject to MoFin's credit, legal, investment loan approval process, and underwriting guidelines. MoFin only makes business purpose loans secured by non-owner occupied residential real estate.

MoFin Lending’s Lending Activity
Data Provided By Elementix
Elementix Logo
12mo Loan Volume

$204,525,700

12mo Loan Count

647

Total Loan Volume

$775,207,796

Average Loan Size

$281,484

Loan Count by State (Past 12 Months)
FL: 102, GA: 125, NC: 113, PA: 112, TX: 77, CT: 38, NY: 29, NJ: 13, SC: 20, OH: 18
Data provided by Elementix | Disclaimer

MoFin is devoted to investment property finance. Our mission is to close loans for our borrowers without the headache and hassle they’re used to with other lenders. We provide financing for fix and flips, rehab to rent deals, turnkey rentals, ground-up construction, and commercial real estate. Due to COVID19, we currently only offer bridge loans against both residential and commercial property. We are working to get 30 year financing for residential real estate and hopeful that it will be available late June or early July.

We hold ourselves to the highest standards when dealing with our customers. We believe the process of getting a mortgage should be easy, efficient, and enjoyable. We pride ourselves on providing personal, one-on-one service to our customers throughout the lending process.

Our business is built on technology. Every part of the application process is done online through our pre-qualification form and borrower portal. By signing up and completing our quick and easy pre-qualification, you can find out what rate we can offer for your deal. From your dashboard, you can see all of your outstanding applications or begin a new one at any time.

Office Locations

MoFin Lending HQ
79 Madison Avenue, 9th Floor, New York, New York 10016

Our Team

George Despotopoulos

Co-Founder

Tyler Peters

Co-Founder

Info Our minimum loan amount is $100,000

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