Fast Funding for Residential Real Estate Investors

DIRECT LENDER | RELIABLE FUNDING | GREAT SERVICE

Straightline is a premier provider of Bridge Loans and Rental Property Loans. We are also the #1 Transactional Funding Lender in the Nation. Our Loan Menu Includes:

  • Fix & Flip
  • Fix to Rent
  • 24-Month Bridge for Purchase or Refinance
  • 30-Year Fixed Rate Rental Property Loans
  • New Construction
  • 100% Transactional Funding (Available in all states except CA, NY, UT)
  • Portfolio Lending

Property Geographic Area Details

Bridge, Rehab, New Construction and Rental loans available in all states except WA, OR, CA, NV, AZ, UT, ID, ND, SD, NE, MN, NY, VT. Transactional Funding available in all states except CA, NY, UT

Loan Amounts

$50,000 to $2,000,000

Interest Rates

3.75% to 12%

Max Loan-To-Value

90%

Max Loan-To-Cost

90%

Origination Fees

1.25% to 3%

Loan Terms

6 months to 360 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property

Property Occupancy

  • Vacant
  • Tenant Occupied 100%

Property Types and Loan Types

Collateral Types

  • Residential Property

Property Types

  • 2-4 Units Residential
  • 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

  • Residential Long-Term Rental
  • Transactional Funding

Purchase Loan

Loans to purchase or refinance properties that do not need rehabbed or that the borrower will rehab using their own funds. This is our most popular bridge loan product as we can lend up to 85% of the purchase price and have terms up to 24 months. Loan Sizes $50,000 to $1,000,000.

Max Loan-To-Purchase Price

90%

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 Another Investment Property
  • Seller Financing
  • Family

Rehab Value Add Loan

Strategy can be Fix to Flip or Fix to Rent. Straightline can fund up to 90% of the purchase price and 100% of the renovations and up to 75% of ARV. Loan Sizes $50,000 to $1,000,000.

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

no

Max LTC for Renovation Costs

90%

Maximum After Repair Value

75.00%

Construction Loan

We will fund up to 65% of the lot purchase and 100% of the vertical construction costs.  Max Loan to ARV is 70%. Interest rates range from 9%-11%.

Development Experience Required

no

Minimum Number of Ground-Up Construction Projects Completed by Borrower

0

Max LTC for Ground-Up Construction Costs

100%

Interest Charged for Construction Costs

Entire Amount of Total Project Costs

Will Lend on Partially Completed Construction Projects

yes

Residential Long-Term Rental

No rural properties allowed. Property must be in a metropolitan area as defined by the FFIEC. $1,250 processing/legal, $55 servicing set up, $49 credit check at time of application, $19 flood certification. Subject property value must be at least $100,000. Rental Loans available in all States except: AK, AZ, CA, HI, ID, MN, MT, ND, NE, NV, OR, SD, UT, VT, WA.

Minimum Loan Amount

$55,000

Maximum Loan Amount

$2,000,000

Minimum Interest Rate

3.75%

Maximum Interest Rate

5.75%

Minimum Origination Fee

1.25%

Minimum Loan Term

36 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

80%

Maximum Loan-To-Purchase

77%

Minimum Debt Service Coverage Ratio

1.00

Will Lend on a Portfolio of Rentals

No

Details and Requirements

Typical Closing Time (Days)

20

Fastest Closing Time (Days)

10

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Amortized

Pre Payment Penalty

yes

Rental Loans - 3/2/1 declining prepayment penalty applies

Will lend to a foreign national

yes

See program guidelines

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
  • Corporation

Documentation Required

  • Credit Report
  • Bank Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Credit Check Description

All credit situations considered for bridge loans. 660 minimum score required for Rental Loans. No credit is needed for Transactional Funding.

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Fees

Processing Fee

Fees which are mandatory for all new borrower clients

  • Processing Fee
  • Legal Fee
  • Credit Report Fee

Legal Disclaimer

Loan rates are subject to change until loan documents are out.

Simple Bridge Loans

Loans to purchase or refinance properties that do not need rehabbed or that the borrower will rehab using their own funds. This is our most popular bridge loan product as we can lend up to 85% of the purchase price and have terms up to 24 months. Loan Sizes $50,000 to $1,000,000.

VIEW GUIDELINES & PRICING


Rehab Loans

Loans that provide funding to renovate a property. Strategy can be Fix to Flip or Fix to Rent. Straightline can fund up to 90% of the purchase price and 100% of the renovations and up to 75% of ARV. Loan Sizes $50,000 to $1,000,000.

VIEW GUIDELINES & PRICING


Rental Loans

30 year fixed rate loans to purchase or refinance rental properties.  This loan requires documentation from the borrower. No income verification. Loan Sizes $55,000 to 1,000,000 documentation from the borrower.

VIEW GUIDELINES & PRICING


Transactional Funding

100% funding for double closings. Straightline is the #1 Transactional Funding lender in the USA.

VIEW GUIDELINES & PRICING


New Construction Loans

We will fund up to 65% of the lot purchase and 100% of the vertical construction costs.  Max Loan to ARV is 70%.  Interest rates range from 9%-11%.

Experience Matters
Straightline was founded in 2006 with the goal of becoming a premier provider of  loans for real estate investors. Our simple approach has always been to provide fast answers, great service, and reliable funding for our clients.  Since 2006 we have provided millions of dollars in loans to local real estate investors who have improved properties, stabilized neighborhoods, created jobs, and built wealth.

Keeping it Simple
We keep you moving toward closing by using common sense underwriting and making quick decisions. We don’t require unnecessary paperwork or burdensome financial documentation. We have a simple application process and provide fast term sheets for review.

Relationships Matter
We pride ourselves on repeat business and referrals from existing customers, realtors, title agencies, attorneys, mortgage brokers , appraisers, and other sources.

Company Size (Number of Employees)

5

Year Established

2006

Associations

  • American Association of Private Lenders

Office Locations

Straightline Funding, LLC
250 N. Trade Street, Suite 209, Matthews, NC 28105

Primary Capital Source

  • Own Funds
  • Life Insurance Companies

Alternative Capital Sources

  • Individual Investors
  • Single Capital Partner

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Table Funding with Capital Partner
  • Multiple Lender Participation

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Note Investing
  • Residential Real Estate Investing

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Fix and Flip

60%

Percentage of Residential Property Loans Which are Buy and Hold

30%

Percentage of Residential Property Loans Which are Ground-Up Construction

10%

2020 Number of Loans Funded

322

Straightline's Bridge Lending Program is the simplest way to purchase property for real estate investors. I can use this program to close quickly on properties for wholesale, rental, or that need rehabbed.

Donald H.

Charlotte, NC

I believe Straightline Funding is the best transactional funding lender in the USA.

Jose Torres

JRT Home Solutions

Great Job Straightline! I appreciate your help, everything went super smooth!

Nick Novak

Losa Investments, Ltd.

Before You Contact Us

Our Minimum Loan Amount Is

$50,000

What We Do

  • Bridge, Rehab, Construction, Rental Loans
  • Transaction Funding for Wholesalers
  • Up to 90% LTP + 100% LTC for Flips
  • 100% Financing for Transactional Deals

Not Available

  • NO Owner-Occupied Homes
  • NO Commercial Properties
  • NO Rural Areas

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

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