Residential Guidelines2020-05-27T17:35:45-04:00

Residential Guidelines


  • First mortgage lien only

  • Loans up to 70% of ARV

  • Loans from $20,000 to $3,000,000

  • Multifamily properties up to 4 units will be considered

  • Appraisal of ARV required on all properties (borrower is responsible for payment)

  • Mortgagee title policy required at closing

  • Builder’s risk policy naming Paces Funding mortgagee as additional loss payee required at closing

  • Closing attorney selected by Paces Funding


  • Rates start at 12% per annum, interest only, depending upon collateral and loan structure.

  • Up to 70% LTV of ARV

  • Origination fee as low as 3% of loan

  • Customary closing costs and fees paid by borrower
  • Appraisal by Paces Funding approved appraiser
  • Interest due on the first of each month
  • Extension fees beyond original term may apply
  • Maximum 12 month term


  • Completed borrower application
  • There is no credit score requirement
  • Executed contract for purchase and detailed construction budget from contractor
  • Adequate financial reserves to cover expenses of closing and continued borrowing
  • Acceptable exit strategy to retire loan
  • Borrower contributes 10% of cost at closing


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