Fix and Flip Loans, Rehab Loans, Renovation
Basic Loan Criteria
Term
12 Months (extensions available)
Loan Amount
$50k to $10M+
Origination Points
2 Points to 3 1/2 Points
Rates
7.99% to 11.50%
LTV
Up to 90% of the Purchase Price +
100% of Renovation Costs
Not to exceed 80% of the ARV
Property Types
Non-owner occupied 1-4 Family Residential Real Estate; Condos; Townhomes; Multi-Families (5+); Mixed-Use Properties
FICO
600 minimum
Bridge Loans
Basic Loan Criteria
Term
12 Months & 18 Months
Loan Amount
$50k to $10M+
Origination Points
2 Points to 3 1/2 Points
Rates
7.99% to 11.50%
LTV
Up to 85% of the Purchase Price;
Up to 70% Refinance;
Up to 65% Cash-Out
Cross-collateralization options are available
Property Types
1-4 Family & Multi-Family Non-Owner Occupied Real Estate; Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
FICO
600 minimum
Commercial Mortgages
Basic Loan Criteria
Term
Up to 30-Year, both Fixed and ARM options available
Loan Amount
$100k to $10M+
Origination Points
2 Points to 3 1/2 Points
Rates
5.99% to 9.50%
LTV
Purchase – Lesser of up to 80% of the As-Is Value or Up to 75% Loan-to-Cost
Refinance – Up to 75% of the As-Is Value
Cash-Out – Up to 70% of the As-Is Value
Property Types
Non-Owner Occupied 1-4 Family & Multi-Family Real Estate; Condos; Townhomes; 5+ Apartments; Mixed-Use Properties; specialized property types (such as auto-dealers, ALFs, day-care, modular and more)
FICO
600 Minimum
Property Value
”As-Is” Appraised Value Must Be Greater Than $75k
Debt Service ratios – can be flexible
Landlord Loans
Basic Loan Criteria
Term
30 Years
Loan Amount
$75k to $10M+
Origination Points
2 Points to 3 1/2 Points
Rates
5.99% to 7.65%
LTV
Purchase – Lesser of up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance – Up to 75% of the As-Is Value
Cash-Out – Up to 70% of the As-Is Value
Property Types
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
FICO
600 Minimum
Property Value
”As-Is” Appraised Value Must Be Greater Than $100k
Property Debt-To-Income Ratio (PDTI)
75% and 85%, based on property value