• Minimum 600 credit score
• Documented income sufficient to cover loan payments
• No bankruptcy in past 3 years
• Legal resident of United States
• Primary residence within 50 miles of subject property
• Sufficient liquid assets to cover your percentage of capital needed for the project

Currently we are lending in Pennsylvania & New Jersey

We lend 75% – 90% of the repair funds and 75% – 90% of the purchase price, up to 70% of the after-repair value

Generally, you will need to put down 10% – 20% of the total project cost

Yes, however personal guarantees are required

Yes, on a case by case basis

Once a borrower has been approved, closings can be held within two days of receipt of the appraisal, inspection report, and title binder

In most cases, no as long as all requirements are met

Applications can be taken by any of our Loan Specialist or representitives in your area or you may apply online through our website by clicking the following Apply

Yes, we require a $350.00 non-refundable application fee on submission of your individual loan request

The property value is determined obtaining a approved appraisal or broker’s price opinion (BPO)

Yes, we provide pre-approval letters upon request

Yes, there are no pre-payment penalties

The average rates charged by Allied are:

• 14.99% interest rate
• 4 to 5 points for a 6 month term
• 6 to 7 points for a 12 month term

There are fees for appraisal, documentation, and credit reports. Ask your account representitive for list of all expense fees.

Yes, the following fees would apply:

• 1.5 points for a 60 day extension
• 3.5 points for a 6 month extension

Non-owner occupied residential, multi-family, and mixed use properties

No, Are loan must be a first mortgage only

Typically 6 to 12 months

We hold the rehab funds and make inspections when you request a draw. 
The rehab funds are usually paid in one to four draws after verification of repairs, and can be mailed to you or wired directly to your account.

Allied Capital Advisers will require an application & supporting documents, including but not limited to:

• Two years of federal tax returns (personal and business)
• Three to six months of bank statements (personal and business)
• Current statements showing bank accounts and other assest
• Most recent pay stubs
• Verification of employment
• Verification of other mortgages
• Credit report obtained by Allied Capital Advisers
• Purchase agreement
• Detailed repair list with itemized rehab cost
• Copy of driver’s license
• Copy of contractor’s license and insurance

For property insurance you will need Special Form Coverage Hazard Insurance provided through NRE Insurance Agency. The Insurance policy must be fully paid up for at least 6 months or the initial term of the loan.

• Inspection report verifying work to be done and cost (obtained by Allied Capital Advisers)
• As-Is and After-Repair value appraisal or market absorption report (obtained by Allied Capital Advisers)
• Title insurance binder (obtained by borrower through our title company)

Interest only payments are required monthly, principal at maturity