RCN Capital Resumes Funding
RCN Capital has resumed funding for both short-term fix-and-flip loans as well as long-term rental loans for non-owner-occupied residential properties. RCN is one of the first private lenders to re-enter the space with a full suite of financing options geared towards real estate investors.
“As the real estate market and overall economy continue to search for stability following the enormous amount of volatility resulting from the COVID-19 pandemic, we are incredibly proud to relaunch all of our loan programs back into the marketplace,” said Justin Parker, head of treasury and capital markets. “As we navigate a new world post-COVID, we take a great amount of pride in being able to stand true to our customers and be there for them when it matters most.”
The terms RCN is currently offering are slightly more restrictive. Specifically, with these new product offerings, customers will find slightly lower leverages and higher rates than what the company was offering pre-coronavirus.
Given the fluidity of the market and indications things are starting to stabilize, RCN believes these guidelines will loosen. The company fully anticipates being able to provide clients with higher leverages and lower rates in the not-so-distant future.
Vist the RCN Capital website for the company’s current loan programs and guidelines.
