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.

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%
Loan Terms
12 months to 36 months
Origination Fees
2.5% to 4%
Lien Position
1st
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%

Commercial Property Bridge Loans:

  • Experience (should be seasoned investor who has performed or overseen rehab projects or owned/operated similar asset class if no rehab is involved)
  • 640+ FICO (no derogatories in the last 36 months, this includes (but is not limited to) missed mortgage payments, bankruptcies, foreclosures, short-sales, judgments, tax liens)
  • For purchases: 35% down payment (sourced from the borrower, cannot be a loan/gift funds for the downpayment)
  • Rates: 12% – 15%
  • Origination Fee: 2 -3  points
  • Liquidity: 6 months of liquid reserves (may be increased)
  • MFR (5+ units), mixed-use, office space, light industrial, warehouse (everything else on case by case)
  • Loan amount must be $500k+
  • No rural markets (preference is major cities)
  • Term: 12-36 months

Residential Bridge:

  • Experience (2+ deals in the last 36 months)
  • 640+ FICO (no derogatories in the last 36 months, this includes (but is not limited to) missed mortgage payments, bankruptcies, foreclosures, short-sales, judgments, tax liens)
  • LTV/LTC: 65% -75% on purchase price, 100% of rehab, with the total loan amount capped at 60% – 65% of ARV (terms will be provided on a case by case basis, dependant on borrower’s experience, credit, and the purchase price/loan amount)
  • We can do ground-up construction to experienced borrowers (12% – 15% range)
  • Cash-outs will be on a case by case basis. Will require seasoning and may be capped to 50% – 60% LTV.
  • 1-6 month interest reserve hold-back (may be higher on certain loans)
  • Rates: 11% – 16%
  • Origination Fee: 2.5 – 4 points
  • Minimum loan amount $100k
  • No rural markets
  • Full appraisal required
  • Term: 12 – 24 months

Property Types

  • 2-4 Units Residential
  • Condominium
  • Mixed-Use
  • Multifamily
  • Office
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction
Borrower must put down 25-35% cash on the acquisition. We do not allow seller financing or gap funding behind our loans.

Max Loan-to-Purchase Price

75%

Borrower Must Have Property Under Contract

no

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
Borrower must have completed at least 2 successful projects in the last 36 months. We may require 1 to 6 months interest reserve hold-back (may be higher on certain loans).

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

2

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

4

Maximum After Repair Value

65.00%

Title Fee

Borrower is free to pick the title company.

Credit Report Fee

Part of $299 application fee.

Background Check Fee

Part of $299 application fee.

Background Check Fee

Part of $299 application fee.

Extension Fee

On bridge loans, an extension fee is decided on a case by case basis, and is to the discretion of MoFin.

Appraisal Fee

Price for appraisals vary depending on the property type and location. A quote is issued ahead of time, prior to you signing the term sheet and paying the application fee.

Renovation Construction Draw Fee

$120 - $250 (depends on property type -- you're given this prior to signing the term sheet)

Minimum Origination Fee Amount

$2,000

Fees which are mandatory for all new borrower clients

  • Background Check Fee

Fees which are paid to a third party company

  • Appraisal Fee
  • Credit Report Fee
  • Background Check Fee

Details and Requirements

Typical Closing Time (Days)

21

Fastest Closing Time (Days)

9

Payment Structure
  • Interest Only
  • Amortized
Payment Structure Details

Interest only

Pre Payment Penalty

yes

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.
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 Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
  • Individual(s)
  • 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

620

Credit Check Description

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

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

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.

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.

Get In Touch

MoFin Lending pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

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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.

Year Established

2016

Office Locations

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

Primary Capital Source
  • Own Funds
Loan Structure for Majority of Loans
  • Own Balance Sheet
Percentage of Loans Secured by Commercial Property

20%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

10%

Total Loan Volume Funded to Date

$85,000,000

Our Team

George Despotopoulos

Co-Founder

Tyler Peters

Co-Founder

Funded Deals

Get In Touch

MoFin Lending pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
subscribe-illustration
Before You Contact Us

Our Minimum Loan Amount Is

$100,000

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