MoFin Lending
New York, New York
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
Loan Amounts
Interest Rates
Loan Terms
Origination Fees
Lien Position
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
Max Loan-to-Purchase Price
75%Borrower Must Have Property Under Contract
noWill 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
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
2Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100%Interest Charged for Renovation Costs
Entire Amount of Total Project CostsTypical Number of Days for Funds Draw
4Maximum 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
Get In Touch
Stay Informed About Private Lending
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 HQ79 Madison Avenue, 9th Floor, New York, New York 10016
Our Team
George Despotopoulos
Co-Founder
Tyler Peters
Co-Founder
Funded Deals
Get In Touch
Stay Informed About Private Lending
Our Minimum Loan Amount Is
$100,000
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