RCN Capital’s terms vary by loan program. Here is a basic breakdown of RCN’s most popular programs:
Short-Term Bridge
After Repair Value (ARV) Loan Program
Long-Term Rental Loan Program
Long-Term Rental Multi-Family Loan Program
New Construction Loan Program
If you are a current RCN Capital client, please contact your loan officer directly with any questions.
If you are a new client, you can contact RCN Capital by phone through our general number: 860-432-5858 or by email: Info@RCNCapital.com.
Elite Commercial Servicing is RCN Capital’s loan servicing provider.
For any loan servicing inquiries, please contact Elite Commercial Servicing:
P \ (860) 432-2549
For Draw Requests: Draws@elitecommercialservicing.com
For Pay Off Letters: Demands@elitecommercialservicing.com
For Billing Statements & General Questions: Servicing@elitecommercialservicing.com
For Modifications & Past Due Accounts: Collections@elitecommercialservicing.com
RCN Capital’s terms vary by loan program. Here is a basic breakdown of RCN’s most popular programs:
Short-Term Bridge
After Repair Value (ARV) Loan Program
Long-Term Rental Loan Program
Long-Term Rental Multi-Family Loan Program
New Construction Loan Program
RCN Capital is an asset-based lender and loan amounts are based on the value of the real estate asset that is being pledged as collateral. Max loan-to-value varies by loan program. Please refer to the “Loan Programs” tab of RCN’s website for more details.
RCN Capital is able to lend to most states in the U.S. with the exception of Alaska, Nevada, North Dakota, South Dakota, and Vermont.
RCN requires basic documentation to underwrite the borrower and the property. This includes an application; authorization to run a credit report and background check; copies of bank statements (proof of funds); property appraisal; copies of leases, if appropriate; renovation estimates; and documentation on the business entity.
RCN does not charge any upfront fees during the pre-approval and approval process such as an application fee. However, the borrower is responsible for third party fees such as appraisals or project feasibility studies.
Unlike many of our competitors, RCN only charges interest on the current outstanding balance of an ARV loan. We do not charge interest on the hold back until the funds are drawn, saving you money.
RCN’s 30-year Long-Term Rental loan has adjustable prepayment options up to 5 years . There are no pre-payment penalties associated with RCN’s other loan programs.
For our Bridge Loans, After-Repair Value loan program and Buy-to-Rent loan program, RCN will consider non-owner occupied 1-4 family & multi-family real estate, condos, townhomes, 5+ unit apartments & mixed-use properties as potential collateral. For our Long-Term Rental loan program, RCN will consider non-owner occupied 1-4 family real estate, condos, townhomes, and planned unit developments (PUDs) as collateral.
RCN Capital offers an After Repair Value loan program for non-owner occupied 1-4 family & multi-family real estate, condos, townhomes, 5+ unit apartments, & mixed-use properties. RCN will lend up to 85% of the purchase price and up to 100% of the renovation costs, not to exceed to 67.5% of the after repair value.
RCN Capital is an ARV Lender. Our ARV Loan Program provides up to 85% of the purchase price with an LTV not exceeding 70% of the After Repair Value.
RCN Capital is a commercial lender meaning our loans are used for business purposes, rather than individual or personal interests. We do not provide funding for the purchase of any owner occupied residential properties. Our loans are strictly backed by non-owner occupied residential and commercial properties, and are issued to a business entity.
RCN requires basic documentation to underwrite the borrower and the property. This includes an application; authorization to run a credit report and background check; copies of bank statements (proof of funds); property appraisal; copies of leases, if appropriate; renovation estimates; and documentation on the business entity.
RCN Capital will gladly compensate you for a referral that results in a closed loan, pursuant to local rules and regulations. It is up to you to determine whether you are legally able to accept a referral fee.
If you are interested in receiving more information about RCN Capital’s Broker Program, please fill out the contact form on the “Brokers” tab on our website and you will receive RCN’s Broker Registration Package. Once you complete these forms via DocuSign, you can start referring deals immediately.
Broker fees are disclosed upfront on the commitment letter, in a transaction specific agreement with RCN Capital and on the HUD. A check is sent directly to the broker at closing.
Hard money loans are a specific type of asset-based loan that is typically secured by real estate. At RCN Capital, loans are backed by non-owner occupied residential real estate or small balance commercial real estate. In some cases, multiple non-owner occupied properties are cross-collateralized in order to secure the needed loan amount.
Commercial loans are used for business purposes, rather than individual or personal interests. At RCN Capital, we only make commercial loans that are secured by non-owner occupied residential and commercial real estate.
A bridge loan is typically interim alternative financing used by a business until more conventional financing is secured. The bridge loan may also be used to cover short-term cash-flow issues.
A line of credit can be used for a variety of purposes, such as the funding of construction phases, specific business purchases or addressing cash flow needs.
RCNCapital.com is a website operated by RCN Capital, LLC. By accessing this site and any pages thereof, you agree to be bound by our terms of use and privacy policy. The use of this website does not constitute an application for a mortgage loan or an offer by RCN Capital, LLC to lend.
RCN Capital, LLC is licensed in AZ (License #: 0932325), CA (Loans made or arranged by RCN Capital, LLC pursuant to a California Finance Lenders Law license # 60DBO-46258), MN (MN-MO-1045656), and OR (ML-5571). Please visit www.nmlsconsumeraccess.org for more licensing information.
This is not an offer to lend. All offers of credit are subject to due diligence, underwriting and approval. Not all borrowers will qualify and not all borrowers that qualify will receive the lowest rate or best terms. Actual rates and terms depend on a variety of factors and are subject to change without notice.