Loan Programs
Fix & Flip
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Loan Amount: $50,000 to $3,000,000
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Single family, 2-9 unit, townhomes and condominiums, mixed use
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Loan Term: 12 to 18 months
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LTV: Up to 95% of purchase price and 100% of renovation cost (not exceeding 75% of ARV)
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Mininum ARV: $100,000 for single family, and 2-4 units. $375,000 for 5+ units and mixed use
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No pre-payment penalty
Long-Term Rental
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Loan Amount: $75,000 to $2,000,0000
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Loan Terms: 30-year fixed, hybrid ARMS (5/1, 7/1, 10/1) and interest-only
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LTV
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Purchase: lesser of 80% of LTC or 80% of As-Is Value
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Refinance: Up to 80% of As-Is Value
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Cash-Out: Up to 75% of As-Is Value
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Property Value
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Minimum As-Is Value of $115,000
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Minimum DSCR: 1.05
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Minimum Credit Score: 660
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Location: States outside of AK, ND, NV, SD, VT
Multifamily
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Loan Amount: $250,000 to $3,000,000
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Loan Terms: 12 to 18 months
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LTV:
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Purchase: Up to 75% of the As-Is Value
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Refinance: Up to 70% of As-Is Value
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Cash-Out: Up to 65% of As-Is Value
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Minimum Credit Score: 650
FAQs
Are there any location restrictions?
We lend in a majority of the states with the exception of Alaska, Nevada, North Dakota, South Dakota, and Vermont.
What can I use as collateral for a loan?
Loan collateral can range in the form of non-owner-occupied single-family home, 2-5+ unit, condos and townhomes.
What documentation is necessary for a loan application?
Essential documentation during the loan process will be proof of funds, property appraisals, copies of leases, authorization for a credit report and background check. If renovation funds are being requested, include renovation estimates and the borrowing business documentation.
If I do not meet the minimum requirements, can I add a partner?
A partner may added to the application as long as they are included in the business structure.
