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RCN Capital is a national, direct, private lender. 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.
Nationwide, direct financing for real estate investments with competitive terms and fast turn times.
How do you determine the loan amount?
RCN Capital is an asset-based lender and loan amounts are based on the value of the real estate asset that is being pledged as collateral. Max loan-to-value varies by loan program. Please refer to the “Loan Programs” tab of RCN’s website for more details.
What states do you lend in?
RCN Capital is able to lend to most states in the U.S. with the exception of Alaska, Nevada, North Dakota, South Dakota, Minnesota and Vermont.
What type of documentation is required for the loan application?
RCN requires basic documentation to underwrite the borrower and the property. This includes an application; authorization to run a credit report and background check; copies of bank statements (proof of funds); property appraisal; copies of leases, if appropriate; renovation estimates; and documentation on the business entity.
Do you have a minimum FICO score?
RCN Capital’s bridge loans and After-Repair Value loan program have a minimum FICO requirement of 620. The Long-Term Rental loan program has a minimum FICO of 680. The New Construction loan program has a minimum FICO of 680. • With all loans at RCN, the borrower’s credit score is taken into consideration when underwriting the loan. RCN reviews the individual’s history to determine if there is a repeating pattern of poor financial management or if an isolated incident affected the individual’s credit. We also look at the borrower’s credit in terms of the exit strategy. If the borrower intends to buy and hold rather than fix and flip the property, we will pay closer attention to FICO scores
Are there any upfront fees or costs?
RCN does not charge any upfront fees during the pre-approval and approval process such as an application fee. However, the borrower is responsible for third party fees such as appraisals or project feasibility studies.
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