What states do you lend in? Loan programs are currently available in AZ, CA, CO, DC, FL, IL, MD, NC, TN, TX, VA & WA with additional availability coming soon. Call 800-208-1803 if your state is not listed.
What loan products do you specialize in? We specialize in financing investor rehab properties or other discounted sales where the borrower is purchasing a property at a steep discount to market, repairs the property, and then resells the property for a profit within six months.
Do you have pre-payment penalties? The minimum interest charge is 30 days, regardless of when the loan is repaid. There are no pre-payment penalties.
Can I hold title in a corporation, LLC or Trust? Yes, but we do require personal guarantees from the entity's principals.
Will you roll the costs of the loan into the loan? Yes
Do I have to prequalify for every loan? No, we perform our borrower underwriting for the first loan and periodically thereafter
Do you offer discount pricing for return borrowers? Yes, our pricing is dependent on a borrower's loan volume, quality of collateral property improvements and timeliness of payments
How do I pre-qualify for a loan? Go to this link and submit your pre-qualification form
Do you lend on primary residences? No, you can't live in the property securing our loan
Do you provide second lien loans? No
If I already own a property and want to improve it for resale, will you finance it? Yes, so long as you do not reside in the property
What are your lending minimums and limits? $50,000 and up
Do you offer 100% financing for properties if I find a really good deal? No, no matter how good the deal, our borrowers must provide at least a 20% cash down payment. See our Loan Programs
Do you offer financing for the property improvements? Yes, for select borrowers we offer financing on property improvements once the improvements have been made and inspected by us
What is your maximum loan to value? Our loans must not exceed 65% of the estimated as repaired value of the property
How do you determine the value of the property? Through a third-party BPO or in-house appraisal
What is your maximum loan to cost? Our loans must not exceed 80% of the property purchase price
Are you a direct lender or do you just broker to investors? We are a direct lender with control of our own funds
What types of properties do you lend on? See CSL Underwriting Guidelines for specific property types
Are there any properties you do not lend on? See CSL Underwriting Guidelines for excluded property types
Do you require any up-front fees to underwrite a potential loan? No
Copyright 2018 Center Street Lending. All Rights Reserved. CFL License No. 60DBO-57755 | AZ MBL# 0930263 Real Estate Broker - CA Bureau of Real Estate - License #01883377 | NMLS 905781