Service Financial
Non-Recourse Apartment Building Financing 


Up to 80% LTV for loan amounts above $850K, up to 75% for loan amounts above $750K. 30 year amortization, fixed for 3, 5, 7, or 10 years, rates between 5.50%-6.50% depending upon term. A DSCR of 1.25 or greater. A 680+ credit score is required. Total lender points are between 3%-4%. Post closing reserves should be at least 10% of the loan amount. Available Nationwide:


Items needed to pre-qualify a client:

1. Copy of PFS

2. Copy of recent SDIRA statement (showing sufficient cash)

3. Current Rent Rolls

4. Last 3 year of P&L statements for the subject property


Non-Recourse New Construction Financing (Single Family only)


Loan amounts up to 60% of the after completed value. The land must be purchased outright with the IRA or already owned free and clear. Rates between 5%-7.50% for a 6 month term (extension available for an additional 3 months). Total lender points between 5.50%-7.0%, depending on credit score. 700 minimum credit score required. Post closing reserves should cover 6 months of holding costs (interest payments, property taxes, insurance, utilities) plus 10% of the total construction budget. Loan amounts between $50K-$400K. Available Nationwide:


1. A completed loan application

2. A recent copy (within 30 days) of a tri-merge credit report with all three scores

3. Information on the property that includes:


General Question

           Will the borrower be acting as a general contractor or Will the borrower be hiring a license general contractor?


           The property will be sold upon completion for business or investment purposes Yes   No


           Has Construction Started  Yes  No   (If yes, please explain and detail items paid to date)


Lot Information (Choose One)


          Client Owns the lot

            Date purchase: _________

            Original Cost: ____________

            Current Market value: _______

            Debt on the property: _______




          Client found a lot

            Purchase price:___________

            Closing date: ____________



Property Description

     Property Address

     City, State, Zip

     Cost to build home:

      (do not include cost of lot)


     Final Value upon completion:

     Size of home (sq ft):

      (Include gross living area only, above grade)

      Number of bedrooms:

     Number of bathrooms:

     Is permit approved:  Yes   No


Non-Recourse Renovation Financing (Residential or commercial)


Loan amounts up to 50% of the cost of the project (purchase price plus capital improvement costs), Rates are between 11%-14% depending upon the property condition, type and location. 1-3 year loan term with interest only payments.Total lender points are 7%-8%, no minimum credit score required. Client should have enough reserves to cover holding costs (interest payments, property taxes, insurance, utilities) for the duration of the renovation period and at least 15% of the total renovation budget. Available Nationwide:


Items Needed to pre-qualify a client:

1. A copy of a PFS

2. Brief project description (plan with the property, improvements, )

3. Proposed purchase price, itemized renovation budget, and after repair value (please include market analysis with comparable property sales if available)

4. A copy of the clients most recent SD IRA statement



Securities Based Loans


what's needed:


Completed application: