Lima One Capital Reviews
Learn more about Lima One Capital, a hard money lender. Includes information on their loan types, pricing, features, and frequently asked questions.
Updated on August 22nd, 2019
The SMB Guide is reader-supported. When you buy through links on our site, we may earn an affiliate commission. Learn more
Lima One Capital is a hard money lender that offers short and long-term financing for fix and flips, single-family rentals, and multi-family properties. Lima One Capital specializes in first mortgage loans for real estate investors and rehab specialists.
Loan Types:
Lima One Capital has 3 main loan categories to choose from: FixNFlip, for short term financing for rehabs, Rental, for long term financing for rentals, and Multifamily, for short term financing for rehabs of properties of 5 or more units. Lima One Capital offers up to 90% of the purchase and rehab costs, up to 80% of the loan-to-value (LTV) in bridge loans, and up to 75% of the After Repair Value (ARV).
You can see their loan options on their website under the Loan Programs tab.
FixNFlip Loans Rates and Fees:
Level | Origination Fee | Interest Rate | Loan-to-ARV |
|---|---|---|---|
1 | 2 - 3% | 9.75 - 11.5% | 70% |
2 | 1.75 - 2.5% | 9.25 - 10.5% | 70% |
3 | 1.25 - 2% | 8.5 - 9.5% | 75% |
4 | 1 - 1.75% | 8 - 9% | 75% |
5 | 1 - 1.5% | 7 - 8% | 75% |
Rental Loans Rates and Amounts:
Loan Type | Interest Rate | Loan Amount | Maximum LTV |
|---|---|---|---|
Rental30 | 5.5 - 7.775% | $50,000 - $1,000,000 | 75% |
Rental30 Premier | 6 - 7.9% | Starting from $500,000 (& 5 Properties) | 80% |
Rental2+1 | N/A | $50,000 - $2,500,000 | 75% |
Fix2Rent | 13 - 19 Month Fixed Interest | $75,000 - $5,000,000 | N/A |
Build2Rent | 13 - 19 Month Fixed Interest | $75,000 - $5,000,000 | N/A |
Mulitifamily Loans Rates and Terms:
Type | Term | Interest Rate | Loan Amount |
|---|---|---|---|
Value-Add Rehab | 2 years | Starting from 8.125% | $250,000 - $7,500,000 |
Stabilized | 2 years | Starting from 7.125% | $250,000 - $7,500,000 |
Review:
Pros: Simple online application. Flexible loans to cover various situations. No interest on undrawn rehab funds.
Cons: Does not lend on owner-occupied properties or commercial properties.
Bottomline: Lima One Capital offers good financing options for investors looking to rehab rental properties.
Key Information:
Founder | John Warren |
Founded | 2010 |
Headquarters | Greenville, S.C. |
Number of Employees | 51 - 200 |
Contact Number | 1 (800) 390-4212 |
Website |
FAQs:
What kind of loans does Lima One Capital offer?
- Fin and Flip loan options.
- Rental loans.
- Multifamily property loans.
What kind of interest rates does Lima One Capital charge?
Lima One Capital's interest rates range from 5.5% to 11.5%, depending on the type of loan and the terms.
What other charges are there for Lima One Capital loans?
Lima One Capital charges an origination fee and interest on undrawn construction for some of their loans. You can contact the company here to ask about their other fees.
For more information, see our guide to Lima One Capital.