Fees and Rates

Groundfloor loans have no monthly interest payments. Interest is only due at maturity/repayment.
Closing fees can be capitalized - they can be rolled into the total loan amount.

APPLICATION FEE

There is a $250 application fee to cover the costs required to kickstart underwriting and to help ensure a quick decision.

PRICING

Closing fees can be capitalized - they can be rolled into the total loan amount.

ORIGININATION AND UNDERWRITING FEE
Please note the following costs are passed through to the borrower: Document Prep($60), Flood Cert($20), Wire Transfer($35)
Loan Size Grades A - C
% of principal
Grades D - G
% of principal
Minimum Origination
Fees at Closing
UW Fee
Small $50-100K 4.0% 4.5% $2,250 $250
Medium $100-350K 3.0% 3.5% $3,750 $500
Large $350-500K 2.5% 3.0% $9,750 $750
Jumbo $500-500M 1.0% 1.25% $6,250 $1000

SERVICING COSTS

Draw Fees: $175 per draw plus $25 wire fee ($200 total)

  • An independent inspection is undertaken for each draw.

LOAN MATURITY/REPAYMENT

  • Groundfloor loans have no monthly interest payments. Interest is only due at maturity/repayment.
  • For loans graded D to G, there may be an additional service fee of 0.5% of the principal amount, payable at maturity/repayment.
  • 3, 6, 9 and 12 month loan terms are available, at the interest rates below.
ANNUALIZED INTEREST RATES
Please note in cases of late payment, interest may accrue at a default rate.
Loan Term * A B C D E F G
3 Month 5.0% 7.0% 9.5% 13% 16.5% 20.0% 24.0%
6 Month 5.5% 7.5% 10.0% 13.5% 17.0% 20.5% 24.5%
9 Month 6.0% 8.0% 10.5% 14% 17.5% 21.0% 25.0%
12 Month 6.5% 8.5% 11.0% 14.5% 18.0% 21.5% 25.5%

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