FAQS
FREQUENTLY ASKED QUESTIONS
Welcome to the Pineyro Private Capital LLC Help Center. We have compiled some of the questions we get asked the most. We specialize in a variety of fields and have knowledge pertaining to many areas of accounting. Our team will do our best to answer all of your financial management questions and concerns. If you can’t find the answer you are looking for, please get in touch.
WHERE DOES PINEYRO PRIVATE CAPITAL ORIGINATE LOANS?
Alabama | Colorado | Connecticut | Delaware | Florida | Georgia | Hawaii | Illinois | Kentucky | Louisiana | Maryland | Massachusetts | Missouri | New Jersey | New York | North Carolina | Oklahoma | Pennsylvania | Rhode Island | South Carolina | Tennessee | Texas | Virginia | Washington |
WHAT IS YOUR MAXIMUM LEVERAGE?
Pineyro Private Capital lends in major metropolitan areas.
Max LTV will be determined on the location of the property, the borrowers FICO score and experience level.
The Max LTVs are:
80% Purchases
80% Rate & Term
80% Cash Out
WHAT IS THE MINIMUM FICO REQUIREMENT?
The 1-year bridge loan does not have a minimum FICO to qualify. However, the FICO score will directly impact the max leverage
The 2-year bridge loan has a minimum mid-FICO requirement of 500
The Rental Program has a minimum mid-FICO requirement of 580
WHAT INTEREST RATES DOES PINEYRO PRIVATE OFFER?
Bridge Loan: Rates start at 5.49%; - FICO score, Experience Level, and Vesting Options will directly impact the rate
Rental Loan: Rates start at 3.25%.; - FICO score, Experience Level, and Vesting Options will directly impact the rate
WHAT ARE PINEYRO CAPITAL’S VESTING OPTIONS?
Individual(s) name,
Inter Vivos Revocable Trust*
US Legal Entity**
IRA LLC (Checkbook IRA)
*Inter Vivos Revocable Trust vesting is not allowed in Florida
**Vesting as an Individual is not allowed in Georgia. Investor/Sponsor must vest in the name of a legal US Entity (LLC or Inc.)
Florida
Inter Vivos Revocable Trust vesting is not allowed
Georgia
Vesting as an individual is not allowed. Investor/Sponsor must vest in the name of a legal US Entity
Virginia
Vesting as an individual is not allowed. Investor/Sponsor must vest in the name of a legal US Entity
CAN I VEST IN THE NAME OF MY SELF-DIRECTED IRA?
Yes, IRA LLCs (Checkbook IRAs) are eligible investors. The requirements for IRA LLC's are as follows:
The sole member must be a self-directed IRA
The manager must be the IRA holder
Fully Executed Operating Agreement
Borrower Resolution authorizing the IRA LLC to enter into a loan transaction with CIVIC
Personal Guaranty must be obtained from the investor/sponsor
Corporate resolution from IRA custodian
WHAT ARE THE DOWN PAYMENT REQUIREMENTS?
The minimum down payment on a purchase is 20%.
The location of the property and strength of the borrower will ultimately determine what the required down payment will be.
WHAT DOCUMENTS ARE REQUIRED TO GET STARTED?
In order to protect your personal information, you can upload the following items directly to our PORTAL:
1. Application
2. VALID Driver's License
3. 2 Months Most Recent Bank Statements
4. Fully Executed Purchase Contract if transaction is a Purchase
5. Most Recent Mortgage Statement or Payoff Demand if transaction is a Refinance
6. Entity Documentation for LLC or Inc. if you are vesting in an Entity
7. Lease Agreement for subject property if you currently already have a tenant in place
8. Rehab Submission Package and Rehab Budget if rehab financing is requested
9. Insurance declaration if available
WHAT IS INSTITUTIONALIZED PRIVATE MONEY?
As opposed to Hard Money that does not lend directly and sources it funds from high net worth individuals or crowd funders, Institutionalized Private Money lends directly to the borrower and is backed by Wall Street.
WHAT ARE THE BENEFITS OF INSTITUTIONALIZED PRIVATE MONEY?
There are many reasons an investor would choose to work with a private money lender. Short-term bridge loans are a popular alternative to conventional loans when investors need:
1. A quick close. Our loans typically close within 7-10 business days.
2. Time to increase their credit scores to qualify with a Conventional or Non-QM lender
3. Time to file their tax returns
4. Also, private money can help investors who:
• Are self-employed and cannot qualify traditionally due to their Tax Returns not showing enough income
• Have reached the maximum number of loans they can finance traditionally. Here at PINEYRO PRIVATE CAPITAL we do not calculate DTI, we do not verify income, and we have no cap on the number of investment properties that are financed.
HOW QUICKLY CAN PINEYRO CAPITAL CLOSE A LOAN?
On average, we close between 7-10 business days (from receipt of appraisal and all title work). Depending on the complexity of the transaction details and cooperation of all parties involved.
DOES PINEYRO PRIVATE CAPITAL OFFER A FORECLOSURE BAILOUT PROGRAM?
Pineyro Private Capital does NOT offer a Foreclosure Bailout Program. No active Foreclosures or Bankruptcies will be considered.
DO YOU OFFER BLANKET LOANS / CROSS COLLATERIZATION?
Yes, we offer and specialize in blanket loans. We can have up to 10 properties in one loan. All of the properties will have to be in the same state.
DO YOU FINANCE REHAB? IF SO, HOW MUCH?
Yes, we offer rehab financing up to 100% of the rehab budget. The amount financed is determined by the borrowers level of experience and will range between 80% - 100% of the rehab budget. These funds will be disbursed from a holdback account on a draw schedule.
DOES PINEYRO PRIVATE CAPITAL LEND ON THE ARV?
No, Pineyro Private Capital is an As-Is Lender. When we finance the rehab along with the acquisition of the subject property, we use the AS-IS value to determine the base loan amount and leverage. The base loan amount plus the rehab financing amount is all on the same note, and that total loan amount may not exceed 70-75% of the ARV.
WHAT PROPERTY TYPES CAN PINEYRO PRIVATE CAPITAL LEND ON?
Residential Investment Properties: Attached and Detached SFR, 2-4 units, Townhomes, Condos (warrantable and non-warrantable), Manufactured and Modular homes, Multifamily apartments, shopping centers, etc.
DOES PINEYRO PRIVATE CAPITAL LEND TO FOREIGN NATIONALS?
Yes, Pineyro Private Capital does lend to Foreign Nationals. The requirements are:
1. Valid ITIN Number
2. Valid EIN Number if vesting in an entity
3. Current and valid Passport of Country of Origin
4. Current and valid VISA
5. Funds used for transaction to come from a US bank account
WHY DOES PINEYRO PRIVATE CAPITAL ASK FOR BANK STATEMENTS ON SOME PROGRAMS?
Bank Statements are a crucial item needed to help determine whether the borrower has sufficient funds to cover the down payment and closing costs needed to complete the transaction. Also, because we do not verify income, we require that the borrower has additional funds to cover a minimum of 4 months of the payment including their interest only payment, taxes, insurance, and Association dues, if applicable.