Loan Criteria

• Loan Size – $500,000 to $5,000,000
• Loan Purpose – Residential, Mixed Use and Multifamily Acquisition, Renovations & Refinances
• Loan Strategy – Fix Loans, Fix to Rent, Fix and Flip, Bridge Financing
• Property Types – Single Family Residential (1-4 units) No Land or Ground up Construction Multifamily & Mixed Use buildings
• Loan to Value (LTV) Maximum- Maximum Loan Advance Rates:80%-90% of “as is” LTV
  90% Loan to purchase price (LTPP) for Acquisitions
  100% cumulative loan to value (CLTV)
  70% loan to after repair value (LTARV) for loans with construction reserves
  Maximum for cash out refinance is 75% LTV
• Term – 1 to 24 Months remaining, terms longer than 24 months will be considered on a case-by-case basis
• Lien Type – First position trust deeds and mortgages
• Location – New York, Florida and Connecticut We do not do loans for Rural Properties.
• Junior Liens – Not allowed
• Recourse – Full Recourse in the form of a personal guaranty is required for all borrowers
• Borrower Type – US entity required
• Borrower Credit Score – Minimum credit score of 600 for the borrower/guarantor is required but exceptions or mitigation may apply on a case by case basis. CCCC will obtain an updated credit report to verify score
• Borrower Experience – No track record is required for buy to rent and bridge loans
• OFAC Background – Required for all borrowers
• Borrower Eligibility And Documentation – A US Citizen or a Permanent Resident Alien, if borrower is a US Domiciled Company then a certificate of Good Standing must be provided Required for all borrowers