Genesis Capital
Overview
Genesis Capital provides financing for acquiring, renovating, constructing, and stabilizing vacation rental properties. These loans allow for interest-only payments, flexible release provisions, and limited early pre-payment fees.
Features
Flexible loan programs for vacation rental properties:
- Stabilized or unstabilized properties
- 2 or 3-year terms, full-term interest-only available
- Competitive interest rates
- Purchase, refinance, construction, and/or stabilization
- Fully prepayable, subject to sliding fee structure
- Single property loans from $150,000 up to $3 million
- Portfolio loans are also available
Loan Purpose: Acquisition, renovation, construction, and stabilization of vacation rental properties.
Loan and guaranty structure:
- 2 or 3-year term
- LTV: up to 70%
- Min DSCR 1.3x
Terms and Repayment:
- 2-year term: 2/1 fee structure
- 3-year term: 3/2/1 fee structure
Financial Covenants: Loans will likely include minimum debt service coverage ratio (DSCR) covenants at levels and cadence to be determined during underwriting.
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