FAQ
What is Kings of Capital (KOC)?
Kings of Capital is a Commercial Mortgage Lending Company providing borrowers with a one-stop National Lending Platform capable of sourcing all types of Non-Conforming Loans for Real Estate Investors.
Who do I report to if I have question?
What is a typical rate for a Bridge Loan?
7.49% -14%; The loan agent will go over the borrower’s specific rate.
What is a typical rate for a Rental Loan?
5.49%-10%; The loan agent will go over the borrower’s specific rate.
What is the maximum LTV on your loans?
70% to 80%
What are the primary factors are used to base approvals?
Cash, Equity, Experience and in some cases Credit Score
How long does it typically take to close on a Bridge Loan?
10 to 21 days
How long does it typically take to close a Rental Loan?
22 to 35 days
What is the typical term for a Bridge Loan?
9 to 18 months
Does the loan payments include principal and interest or interest only?
Interest Only
What is a bridge loan?
A loan that Bridges the Gap with Temporary Financing until the property is Sold or a Long Term Loan can be completed.
What is the standard referral fee paid by a Kings of Capital To Referral Partners?
10%
How many points does Kings of Capital usually charge on Bridge Loans?
2-5
What type of Properties does Kings of Capital Lend on?
SFR, Condo, 2-4 Units, 5 Unit Multi-Family, Mixed-Use, Office, Retail, Warehouse, Light Industrial, Daycare and Automotive
What are 3rd party fees borrowers typically pay directly to the 3rd party prior to closing?
Application Fee, Appraisal and Attorney; The loan agent will go over the borrower’s specific fees
What are the FIVE primary things an underwriting looks at when evaluating a loan.
Borrower Cash Reserves in the Bank
Borrower’s Experience in Similar Transactions
LTV – Equity in the property / down payment
Property type, condition, and location
Property Income (ability to make mortgage payments)
Borrower Credit Score and Mortgage Payment History