Fico: 500+. Yes, the lender goes down to 500! Apply Now
Loan Terms: 12 months, interest only
Loan Size: $75K to $1 Million
Max LTC: Lender will finance up to 90% of the purchase price of the property and 100% of the construction (done in draws).
Interest Rate: 7-12%; Interest rate is determined by investors experience.
Property Types: Only 1-4 unit investment properties! This includes Single Family Homes, 2-units, 3-units, 4-units, condos and townhomes.
Pre-Payment Penalty: None!
Use of Funds: Purchase, Refinance, Cash-Out Refinance & Rehab
Asset verification: Depends on borrowers experience. 1-3 months of bank statements.
Points: Loan cannot have more than 4 points associated with it (that is a combined 4 points from the broker and lender!)
Lending Territory: CT, CO, FL, GA, IL, MD, MI, MO, OH, PA, SC, TN, TX, VA, WA & WV.
Closing Time Frame: 15 days. The lender typically just orders a desktop BPO which costs $299 and does not always do a full appraisal. This is how the deal is able to close so fast!
Special: NO JUNK FEES!