RESIDENTIAL REHAB FIX & FLIP LOANS
Rehab Fix and Flip Loan Program for Residential Property:
We offer a Fix and flip loan program specifically for residential real estate investors. This program is a low documentation, perfect to purchase and rehab project to either sell or refinance once complted. Program qualification is based on property values, FICO score and borrower experience. No personal income is required.
Purchase and Rehab (12-18 months):
Loan Amount: $75k-$5M
LTV of Purchase price: up to 75% for new investors or 95% LTV for experienced investors
LTC of Rehab amount: 100%
Max Loan to ARV: up to 75%
Minimum As-Is Appraised Value: $50k
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Condos; Townhomes; Planned Unit Developments (PUDs)
Term: 12 - 18 months
Rate: Starting at 9.99%
Points: Vary based on loan amount
Credit Score: 660 Minimum
No pre-payment penalty
Bridge Loan (12-18 month):
Loan Amount: $75k-$5M
Minimum As-Is Appraised Value: $50k
LTV of Purchase price: up to 75%
LTV Refinance : up to 70%
LTV Refinance cash out: up to 65%
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Condos; Townhomes; Planned Unit Developments (PUDs)
Term: 12-18 months extensions available
Pre-payment penalty: No Prepayment Penalty
Rate: Starting at 10.99%
Points: Vary based on loan amount
Credit Score: 660 Minimum
Ground-Up Construction Program Residential 1-4 units Land & Construction
Loan Amount: $150k-$5M
LTC: 70-90%
Build Cost: Up to 100%
Max Loan to Completed Value: up to 75%
Collateral: Residential 1-4 units
Term: 12-18 months
Rate: Starting at 10.99%
Points: Vary based on loan amount
Credit Score: 680 Minimum
No pre-payment penalty
Borrower Parameters:
A borrower seeking a hard money loan must meet the following generally stated minimum requirements. Specific minimum requirements are set following our receipt of a loan application.
Preferred borrowers can be Corporations or Limited Liability Companies
Reasonable cash reserves of about 10-15%
Reasonable net worth
Credit score – 660 or better
Ability to perform exit strategy required
Property Types:
1-4 Family Residential Properties
Warrantable and Non-Warrantable Condos
Townhomes
Planned Unit Developments (PUDs)
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