ReCasa Financial Group

About ReCasa Financial Group

ReCasa Financial Group is a Columbus, OH based private money lender providing funding in 9 states across the US. They provide lending solutions for many different needs and situations, including hard money bridge loans, private commercial loans, refinancing, and fix-and-flip loans. They provide terms up to 9 months, loan amounts ranging from $60,000 to $750,000 with a maximum LTV of 75%, and rates starting at 9% . They require their borrowers to have a minimum credit rating of 680 to receive a loan. They provide loans on numerous types of properties, including single family, multi-family units, office buildings, retail spaces, industrial facilities, mixed use, and apartment buildings.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

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

Areas Served: KS, MO, IL, IN, OH, PA, NY, TN, SC

Lending Guidelines for ReCasa Financial Group

Below are the general loan guidelines published on the ReCasa Financial Group 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 ReCasa Financial Group.

Loan Example 1

Fernando closes on a $270,000 rehab project in Chicago, IL, using a hard money loan from ReCasa Financial Group. The borrower will need to contribute 45% of the sales price in cash to the closing based on a 55% loan-to-value stipulated by the lender. This makes the principle amount from ReCasa Financial Group $148,500. The deal also includes the following features: 1) a 6 month length, 2) a 13% interest only note, and 3) a four percent origination charge.

The borrower will need to contribute a total of $32,400 upon closing to cover the $121,500 down payment in addition to the $5,940 origination fee. he will then pay $1,609 per month to ReCasa Financial Group. If Fernando sells the house for $391,500 after 6 months, he would then make a gross profit of $105,908 after subtracting the principle amount of $148,500, the cash contributed at closing of $121,500, the origination fee of $5,940, and the total interest payments of $9,653. This profit doesn't account for renovation costs.

Loan Example 2

Cory takes a hard money loan from ReCasa Financial Group so he can rehab a townhouse to flip in Chicago, IL. The loan has the following parameters:

a) A $260,000 purchase price, b) a 65% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 2% origination fee.

After the renovation project is finished, if Cory sells the project for $390,000, the numbers would be as follows:

$390,000 sales price
- $169,000 principle (65% LTV)
- $91,000 cash paid at closing (35% on 65% LTV)
- $3,380 origination fee (2% of the $169,000 principle amount)
- $6,760 total interest paid (6 months x 8% interest)
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= $119,860 gross profit (does not include taxes or rehab costs)

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