Residential Services

XITLOAN, loan options with your choice for your real estate projects. Please give us a call if you have any questions. Phone (305) 280- LOAN (5626)

FIX & FLIP

We are pleased to present an exceptional financing opportunity for real estate investors. Our program offers up to 90% of the purchase price and 100% of rehab costs covered, with interest-only payments and flexible 12-24 month terms. Additionally, there are no prepayment penalties, ensuring maximum flexibility for your investment strategy.

Recognizing the significant expenses associated with property rehabilitation, we streamline the process by including rehab costs directly within the loan. This seamless, hassle-free financing allows you to concentrate on expanding your real estate portfolio effectively and efficiently.

BRIDGE LOANS

Loan amounts range from $100K to $5MM for 1-4 unit residential properties. For fix-and-flip loans with rehab, up to 85% LTV is available, and for bridge loans, up to 80% LTV. No DTI, W-2s, or paystubs are required. Up to 100% rehab financing is offered, with no prepayment premium on a 1-year term. A minimum FICO score of 600 is required, and there are pricing discounts for experienced borrowers. Additionally, bridge purchase loans can cover up to 80% of the property value, up to 85% LTP.

DSCR LOANS-(DEBT SERVICE COVERAGE RATIO)

Loan amounts range from $100K to $5MM for 1-4 unit residential properties, with financing up to 80% of the purchase price or 80% LTV. There are minimal DSCR requirements, and multiple properties can be financed under one loan. No DTI, W-2s, or paystubs are required. A minimum FICO score of 600 is necessary, with pricing discounts available for experienced investors. Short-term rentals are allowed with conservative numbers, using AIR DNA x 0.75 or actuals (whichever is less) with a 12-month history. For properties owned or purchased for less than 12 months, the lesser of short-term and market rents will be used.

NEW CONSTRUCTION

For ground-up construction, financing is available at 80% LTC, with a hard cap at this level. First-time developers are capped at 75% LTC. Experienced investors can secure rates between 7.99-8.99% for 12-24 months. No interest reserves are required, and points and rates can be negotiated lower. For the first 10 homes, financing is likely at 80%, with potential comfort increasing to 85% thereafter. Non-recourse loans are possible with an approximate 5% rate increase. A standard point to the lender is expected, though they will compete on this.


MID REHAB FINANCING 

For mid-rehab construction projects, financing is available at 80% LTC, with a strict cap at this level. First-time developers are limited to 75% LTC. Experienced investors can secure rates ranging from 7.99% to 8.99% for terms of 12 to 24 months. Interest reserves are not required, and there's room for negotiation on points and rates. For the first 10 properties, financing is typically capped at 80%, with potential for an increase to 85% thereafter. Non-recourse loans are feasible with a nominal 5% rate increase. A standard point to the lender is customary, but they are open to competitive offers.

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