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Frequently Asked Questions

Who do I contact for basic inquiries?

If you are a current client, please contact your loan officer directly with any questions.
If you are a new client, you can contact us by phone at : 347 450 3712 or by email: submission@ei8htstreetfunding.com.

What is the minimum credit score?

The borrower’s credit score is taken into consideration when underwriting the loan. We also look at the borrower’s credit in terms of the exit strategy. If the borrower intends to buy and hold rather than fix and flip the property, we will pay closer attention to FICO scores. We take the middle score on a tri-merge and use that to price out your loan. Min credit for rental loans 600 (exception needed) Min credit for rehab loans 620

Can I use this loan to buy my primary residence?

Ei8ht Street Funding is a commercial lender meaning our loans are used for business purposes, rather than individual or personal interests. We do not provide funding for the purchase of any owner occupied residential properties. Our loans are strictly backed by non-owner occupied residential and commercial properties, and are issued to a business entity

What states do you lend in?

Ei8ht Street Funding is able to lend to most states in the U.S. with the exception of Alaska, Nevada, North Dakota, South Dakota, -(Some restrictions apply to CA, MN, AZ)

What documentation is needed?

Ei8ht Street Funding requires basic documentation to underwrite the borrower and the property. This includes an application; authorization to run a credit report and background check; copies of bank statements (proof of funds); property appraisal; copies of leases, if appropriate; renovation estimates; and documentation on the business entity.

Are there upfront fees?

Ei8ht Street Funding does not charge any upfront fees during the pre-approval and approval process such as an application fee. The borrower is responsible for credit and background fees as well as any third party fees such as appraisals.

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