Athas Capital

Phone: 877.877.1477

Address: 26901 Agoura Road. Suite 250, Calabasas Hills, CA. 91301

Website: http://www.athascapital.com/

Email: info@athascapital.com

States They Lend In: AZ, CA, CO, ID, KS, MT, NE, NM, OK, OR, TX, UT, WA, WY Only!

 

Athas Capital Group, Inc. provides large scale product availability with a boutique style service platform. Our clients enjoy institutional product offerings without the bureaucratic red tape typically associated with sophisticated lending platforms. The company was co-founded by Brian O'Shaughnessy, Alim Kassam and Kevin O'Shaughnessy, who bring with them nearly 35 years of experience in all facets of real estate lending. With them, they bring a cohesive management team, operational staff, and sales force; some of our team members have been together with our senior management for as long as 15 years. We understand that relationships and service provide the cornerstone for the firm’s continued success. Importantly, Athas offers a national lending platform with defined rate sheets, underwriting guidelines, and in-house discretionary capital.

 

Hard Money Loans

 

Residential and Commercial

 

Property Types:

Residential Property Types:

o  SFR’s – Condos – Condotels - Townhouses – 2 to 4 Units


Commercial Property Types:

5+ Units, Mixed Use, Office & Retail
Purpose:

Business Purpose only.

 

Occupancy:

• Owner Occupied
•  Non Owner Occupied
•  2ndHomes – NPR

 

Loan Terms:

30 due in 5 or 2 year I/O Fixed

 

Loan Amounts:

$50,000 - $10,000,000

 

Lending To:

• Individuals
•  Family Trust
•  LLC’s / Corporations / LLP’s / IRA’s

 

Pre-Payment Protection:

Term of prepay protection – 3 Years
Type of Prepay
Level 1 – 5% of loan amount standard prepay.

Level 2 – 6 months interest on 80% of the balance.
  No prepay on 2 year I/O Bridge Loan.

 

Income Documentation:

All loans are N.I.V (no income verified – no income stated)

 

DSCR:

• No DSCR calculated on ANY Residential collateral
• 1.25X on 5+ units Multifamily, Mixed Use, Office & Retail

 

Ancillary fees paid at closing:

•   $2,495 Underwriting
•  $450 internal warehouse review fee.
•   $555 Doc fee if property held in entity.

 

Rate Lock:

Rate floats until DOC’s are ordered.

 

Federal / State Tax Liens:

All income tax liens must be paid through closing if they are in excess of $2,500

 

Property Condition:

Must have minimum deferred maintenance.

If significant deferred maintenance, priced CBC.

If this is a “Fix & Flip” or “Hold” purchase, please make rep aware of this
so it can be priced CBC.
LTV over 70%:

• Property must show “pride of ownership”.
• Property must be located in major metropolitan areas.
• Property must be “standard” for area.
• Max Loan Amount $1 Million.
• No Mortgage delinquencies allowed.
• Purchase money only.
• Residential properties only.
• No first time home buyers or renters.
•  Down payments must be Sourced & Seasoned for 60 days.
• 2 Year Interest Only product only

 

Fix and Flip

 

Submission Requirements:

• 1003
•  Credit Report
•  Accepted Purchase Agreement (if a purchase)

 

Term:

6 months – with 12 month term available case by case.
Max LTP – 70% of purchase price.
Flipper must show the ability to complete rehab.
Property must be in major metropolitan area if LTP is over 60%.
Flipper must have 650+ fico and no foreclosures in past 2 years to get LTP over 65%.
Commuter neighborhoods max LTP is 65%.
Rehab must be done in 90 days – exception for 120 days case by case.
Minimum loan amounts

$50-$75K - 55%
$76 - $99K - 60%
$100K - $2M - 60+%
Rate/Cost

7.99% - 1.50 Points
8.50% - 1.50 Points
8.99% - 2.00 Points
9.99% - 2.50 Points

 

LTV

40% LTP
50% LTP
60% LTP
70% LTP

• New & Revised
• NO UPFRONT
• LENDER FEES

 

Add Ons

1 year term  + 50bps
650+ Fico  No Add On
600+ Fico  + 25bps (max LTV 65%)
550+ Fico  + 50bps (max LTV 60%)