Residential Guidelines


  • First mortgage lien only
  • Loans up to 65% 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



  • 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 15% of cost at closing



  • Rates start at 10% per annum, interest only, depending upon collateral and loan structure.
  • Up to 65% LTV of ARV
  • Origination fee as low as 2% 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