Congressional Capital

About Congressional Capital

Headquartered in Washington, DC, Congressional Capital is a private money lender providing loans throughout Washington DC. They provide loans for a variety of scenarios, including private commercial loans, short term fix and flip loans, and builder loans. Their lending guidelines are flexible, including loan amounts ranging from $200,000 to $2,000,000 with a maximum LTV of 70%, rates ranging between 13% and 18%, and terms up to 6 months. They will lend funds to all borrowers based on the value of the property and not on a minimum FICO score. They make loans on numerous property types, including multi family, apartments, office units, retail spaces, mixed use spaces, and single family residences.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Mixed Use, Single Family

Areas Served: Washington DC

Lending Guidelines for Congressional Capital

Below are the general loan guidelines published on the Congressional Capital website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Congressional Capital.

Loan Example 1

John finds a duplex in Washington DC, DC to rehab and re-sell. Since he doesn't have enough cash available to purchase the $160,000 house outright, he takes out a private money loan from Congressional Capital. Because the lender sets a 75% loan-to-value, John will have to put 25% down and the amount of the note will be $120,000. The interest rate on the note is 11% for a term of 6 months and the company requires a four point origination fee at closing. The interest is to be paid monthly and the principle will be paid back after the property sells.

Accordingly, John will have to make a $40,000 down payment plus pay a $4,800 origination fee. After the deal is closed and John takes on the property, he will have to begin making monthly payments of $1,100 to Congressional Capital ($120,000 principle x 11% / 12 months). John's intention is to finish the rehab by the end of the 6 months and re-sell it for $240,000. If he succeeds he will collect a gross profit of $68,600 ($240,000 price - $120,000 principle amount - $40,000 cash paid at closing - $4,800 origination fee - $6,600 in total interest payments.

Loan Example 2

Kirsten finds a property in Washington DC, DC to renovate and sell. Since she does not have enough cash to buy the property outright, she takes a fix and flip loan from Congressional Capital with the following parameters:

$390,000 sales price
60% loan to value (LTV)
6 month term
11% interest rate
4% origination fee

If Kirsten accomplishes her goal of a $546,000 sales price, the outcome of the project will be the following:

$546,000 sales price
- $234,000 loan principle (60% LTV)
- $156,000 cash paid at closing (40% on 60% LTV)
- $9,360 origination points (4% of the $234,000 principle)
- $12,870 interest payments (6 months x 11% interest)
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= $133,770 gross profit (doesn't include taxes or rehab costs)

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