Bridge lenders
Lima One Capital
Lima One Capital is a business-purpose lender for real estate investors, brokers and mortgage loan officers. Its programmes cover FixNFlip and Fix2Rent, ground-up construction through Build2Rent and a bridge loan for builders, plain bridge loans, single-family and portfolio rental lending, and multifamily stabilised and value-add bridge loans aimed at carrying a property to agency qualification.
The company keeps the loan process in-house: sales consultants, underwriting, appraisal management, servicing and construction draws are all internal, and it says draw funds can be released in as little as one day. Underwriting is based on credit, liquidity and investment experience rather than tax returns and income analysis, and maximum borrower exposure is set at up to 10x liquid assets. Borrowers are assigned an analyst for the life of the loan.
Lima One dates its start to 2011 and was founded by two US Marine Corps veterans. It says it has closed over 29,000 loans and created more than $10 billion in fundings across 46 states, and it is backed by MFA Financial, a publicly traded real estate investment trust. The headquarters is at 300 East McBee Ave in Greenville, South Carolina, with further offices in Irvine, California and Charlotte, North Carolina; the company lends under NMLS #1324403 plus a list of state licences.
Coverage is not truly nationwide: the site states Lima One does not lend in Alaska, North Dakota, South Dakota or Vermont, and lends within the USA only, not in Puerto Rico. Rate sheets, minimum loan sizes and leverage caps are not published, so terms come from a quote. The site also gives two different start dates, describing loans closed since 2010 on the home page and a start in 2011 on the story page.
Best for
Investors and builders financing non-owner-occupied residential and small multifamily projects who want one lender for the rehab, the draws and the rental takeout. Not available in Alaska, North Dakota, South Dakota or Vermont.
What they do
- FixNFlip rehab loans
- Fix2Rent rehab-to-rental loans
- Build2Rent ground-up construction loans
- Bridge loans for builders
- Single-family rental (DSCR) loans
- Rental portfolio loans
- Multifamily stabilised bridge loans
- Multifamily value-add bridge loans
- In-house construction draw management
- In-house loan servicing
Details
| Attribute | Value |
|---|---|
| Other offices | Irvine, CA, Charlotte, NC |
| Licenses | NMLS #1324403, Arizona Mortgage Banker License #0949706, Florida Mortgage Servicer License #MLD1662, Idaho Mortgage Broker/Lender License #MBL-2081324403, Minnesota Residential Mortgage Originator License #MN-MO-1324403, Nevada Mortgage Company License #5304, Oregon Mortgage Lender License #ML-5397, Utah-DRE Mortgage Entity License #11755492, California Finance Lender License #60DBO-45834 |
What stands out
- Says it has closed over 29,000 loans and more than $10 billion in fundings across 46 states.
- States it does not lend in Alaska, North Dakota, South Dakota or Vermont.
- Sets maximum borrower exposure at up to 10x liquid assets.
- Underwrites on credit, liquidity and investment experience rather than tax returns.
- Backed by MFA Financial, a publicly traded real estate investment trust.
- Lends under NMLS #1324403, with offices in Greenville, Irvine and Charlotte.