| Purpose |
Purchase, Refinance, Cash Out, Wholesale Funding, Rehab, Residential Construction (& Mid Construction), Bridge, Long Term |
| Loan Size |
$50k - $5M Residential, $500k - $10M Multifamily |
| Assets - Residential |
SFR, 2-4 Units, Warrantable Condo's, Townhomes, PUD's, Portfolios, No Rural |
| Assets - Commercial |
Multi Family, Mixed Use, Office, Automotive, Retail, Warehouse, Self Storage, Light Industrial |
| Service Area |
Nationwide excluding AZ, MN, ND, SD, VT, NV, LA, OR, ID |
| LTV / LTC / LTARV |
to 80% Purchase, to 90% Rehab, 85% LTC Construction, to 75% Bridge and Refi Cash Out, up to 70-75% ARV |
| Credit (Program Specific) |
Midscores - 660+ Rentals, 660+ Bridge, 620+ Rehab, 680+ Construction, 680+ Portfolios, NO FICO Bridge to 50% LTV (Residential & Commercial) |
| Term |
12 mo - 30 yr Fixed, 12 - 18 mo Rehab & Construction |
| Experience |
0 - 1 Rehab, Min 4+ Construction , 0 for Rentals (last 3 years) |
| Pre Payments |
0 to 6 mo Bridge, 5 years Term Loans |
| Amortization |
Interest Only Bridge & Fully Amortizing for Long Term |
| Rates |
Quoted Daily from 6.49% Fixed, 9.99% + Bridge |
| Points |
2% + |
| Close Time |
Average is 10 - 20 business days, |
| Borrower Type |
LLC or Corporation Only, Foreign Nationals OK subject to Lender Requirements |
| Wholesale Funding |
Must be Arms Length, Assignment Fees Permitted to 10% Purchases (over 10% subject to Lender Discretion), to 20% Rehabs, Full Chain of Contracts/Assignments (A-B-C etc) Required, Loan Amounts $100k -$3M |
| Brokers |
Broker Program Available on all Residential Loan Products |
