RCN Capital
South Windsor, Connecticut
NMLS ID 1045656, CFL 60DBO-46258, Arizona BK-0932325, Oregon ML-5571, Minnesota NMLS #1045656
National Direct Private Lender for Real Estate Investors
RCN Capital® is a nationwide, direct private lender. Established in 2010, we provide short-term and long-term hard money loans to real estate investors. As a direct private lender, RCN Capital takes a common sense approach to underwriting, with all approvals made in-house, and we are dedicated to providing a quick response to time-sensitive loans. We offer speed unmatched by conventional lenders and can close in as few as 10 business days.
Please note: We do not offer loans for owner-occupied homes.
Property Geographic Area Details
Loan Amounts
Interest Rates
Loan Terms
Origination Fees
Lien Position
Maximum Leverage
Purchase Short-Term (no Value-Add)
Purchase Long-Term
Refinance Short-Term (no Cash Out)
Refinance & Cash Out Short-Term
Refinance Long-Term
Residential Fix & Flip
Residential Rehab & Hold
Multifamily Value-Add
Residential Construction
Fix & Flip Projects / ARV Loans
Short-term financing for the purchase & rehab of non-owner occupied properties.
- Collateral: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes: 5+ Unit Apartments; Mixed-Use Properties
- LTV: Up to 85% of the Purchase Price + 100% of the Renovation Cost
- Investors with less experience will need to contribute more to the purchase
- LTARV: Not to Exceed 75% of the ARV (max 70% for new investors)
- Term: 12 Months (6-Month Extension Available)
- Minimum As-Is Property Value:
- $50k for Single-Family
- $25k per Unit for 2-4 Family
- $35k per Unit for Multi-Family (5+)/Mixed-Use
- Loan Amount:
- $50k – $2M for 1-4 Family, Condos, & Townhomes
- $250k – $5M for Multi-Family (5+)/Mixed-Use
- Minimum FICO Score: 680
- Interest Rates: As Low As 10.5% for very experienced investors
- (Interest Only Charged on Outstanding Balance)
- Pre-Payment Penalty: N/A
INVESTOR EXPERIENCE LEVELS
- New Investor: Completed up to 2 Flips or Owned up to 2 Rentals in the last 3 years
- Interest Rates Starting at 11.74%
- 20% cash down payment required for purchase
- Intermediate Investor: Completed Between 3 & 10 Flips or Owned Between 3 & 15 Rentals in the Last 3 Years
- Interest Rates Starting at 10.74%
- 17.5% cash down payment required for purchase
- Experienced Investor: Owned 30 or More Investment Properties (Flips and/or Rentals) in the Last 3 Years
- Interest Rates Starting at 10.24%
- 10% cash down payment required for purchase
Long-Term Rental Loans
Long term financing for the purchase and refinance of non-owner occupied rental properties.
- Collateral: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
- LTV:
- Purchase: Lesser of up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
- Refinance: Up to 80% of the As Is Value
- Cash-Out: Up to 75% of the As Is Value
- Term: 30 Years
- Property Values: “As Is” Appraised Value Must Be $100k or Greater (Geographical Restrictions May Apply)
- Loan Amount: $75k – $2M
- Minimum FICO Score: 650
- Interest Rates: Starting at 8%
- Debt Service Coverage Ratio (DSCR):
- For Property Values < $150k: 1.1 or Greater
- For Property Values $150k+: 1.1 or Greater
Mulit-Family Loans
Short-term financing for 5+ unit apartments and mixed-use properties.
- Collateral: Multi-Family Apartment Buildings (5+ Units); Mixed-Use Properties (Residential Space is Great than 50% of Square Footage)
- LTV: Stabilized Bridge
- Purchase: Up to 75% of the As is Value
- Refinance: Up to 70% of the As is Value
- Cash-Out: Up to 60% of the As-Is Value
- Fix & Flip – Light Rehab only
- Purchase: Up to 87% of the Purchase Price + 100% of Renovation Costs
- Refinance: Up to 70% of the As-Is Value + 100% of Renovation Costs
- Cash-Out: Up to 60% of the As-Is Value + 100% of Renovation Costs
- Term: 12 Months (6-Month Extension Available)
- Minimum Property Value: $50k per Door (Subject to Increase Based on Location)
- Loan Amount: $250k – $3M ($1M Max per unit)
- Minimum FICO Score: 680
Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.
Property Types
- 2-4 Units Residential
- Condominium
- Mixed-Use
- 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
Specialty Loan Types
- Condo Conversion
- Residential Long-Term Rental
Max Loan-to-Purchase Price
90%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
Experience Required
noMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
5Maximum After Repair Value
75%Development Experience Required
yesMinimum Number of Ground-Up Construction Projects Completed by Borrower
1Max LTC for Ground-Up Construction Costs
90%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
yesMinimum Loan Amount
$75,000Maximum Loan Amount
$2,000,000Minimum Interest Rate
8%Maximum Interest Rate
10%Minimum Origination Fee
2%Maximum Origination Fee
5%Minimum Loan Term
360 monthsMaximum Loan Term
360 monthsMaximum Loan-To-Value
80%Maximum Loan-To-Purchase
80%Minimum Debt Service Coverage Ratio
1.10Will Lend on a Portfolio of Properties
YesMinimum Number of Properties
1Minimum Property Value
$100,000Maximum Property Value
$2,000,000Deposit Required
6 months interest reserve on purchase 12 months interest reserve on refinances
Legal Fee
$995 legal fee due at closing on all loans. New York: $995+.25% of total loan amount.
Inspection Fee
$200 inspection fee per draw request. This amount is NOT paid out of pocket; it is taken out of the renovation budget.
Credit Report Fee
$25 is charged for RCN to pull a credit report
Background Check Fee
$25 for a background check
Background Check Fee
$25 for a background check
Appraisal Fee
Cost of ordering an appraisal. If there is renovation, it will be an appraisal of both as-is and after repair value. Usually in the range of $600-1500, buy may be higher, especially for larger multi-family or mixed use properties. RCN does not collect this fee, as it will be collected by the AMC and therefore will not appear in closing costs.
Renovation Construction Draw Fee
$$200 inspection fee per draw request. This amount is NOT paid out of pocket; it is taken out of the renovation budget.
Fees which are mandatory for all new borrower clients
- Deposit
- Legal Fee
- Appraisal Fee
- Credit Report Fee
- Background Check Fee
- Renovation or Construction Funds Draw Fee
Fees which are paid to a third party company
- Appraisal Fee
- Credit Report Fee
- Background Check Fee
RCN Capital Testimonials
Absolutely the best service possible!
Robert D.
"Eileen and CarolAnn we're an absolute pleasure to work with. They both took time to explain options and were very patient and understanding in walking me through a typically tough process. I will be doing business with RCN again, and it because of the exceptional service from these two!"
I am glad I went with them
Kevon B.
"RCN was absolutely easy to work with. I did a cash out Refi with them. The process was check and easy. I believe I closed within 3 weeks. Serena was extremely knowledgeable and helpful. She was professional and went the extra mile to ensure I understood what we needed to make the deal work. I would recommend them 1000%!"
Rosheed S.
"My experience working with RCN has been nothing short of spectacular. Professional on all levels with an efficiency that makes working on any deal seemless. My dealings with loan officer Eileen Mazza have been extraordinarily productive. Her work ethic is second to none and her knowledge has helped me in more ways than I can possibly count. Looking forward to working with her and RCN for the foreseeable future"
Contact RCN Capital
Stay Informed About Private Lending
RCN Capital is a nationwide, direct, private lender. Established in 2010, we provide commercial loans for the purchase or refinance of non-owner-occupied single-family & multi-family properties. We specialize in ground-up construction financing, short-term bridge loans, fix & flip financing and long-term rental financing for real estate investors. We lend to both new and experienced real estate professionals throughout the country. We value referrals; brokers are protected. As a direct private lender, RCN Capital takes a common-sense approach to underwriting, with all approvals made in-house, and we are dedicated to providing a quick response to time-sensitive loans. We offer speed unmatched by conventional lenders and can close in as few as 10 business days.
Associations
- American Association of Private Lenders
- Asian Real Estate Association of America
- Connecticut Mortgage Association
- Connecticut Mortgage Bankers Association
- East Coast Real Estate Investors Association
- Mortgage Bankers Association
- National Private Lenders Association
- National Association of Mortgage Brokers
- National Alliance of Commercial Loan Brokers
Office Locations
75 Gerber Road East, South Windsor, Connecticut 06074Our Team
Stephen Ballard
Senior Business Development Coordinator
Natasha Nikulina
Business Development Coordinator
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