Programs Overview

Residential

• Purpose - Purchase, Refi, Cash Out & DSCR
• Property Types - 1-4 Unit Properties, PUDs, warrantable condos, townhomes, portfolios
• Loan amount - $200,000 - $1,500,000 SFR  $2,000,000 (2-4 Unit & Portfolios)
• Max LTV's - 80% Purchase I 75% Cash Out
• FICO - Min 660, 680 Portfolios
• Borrower Type - Entity Only
• Rates - Quoted daily and as low as 5.5% with high FICO, lower LTV
• Terms - 5, 7, 10, 30 yrs I Bridge 12 - 18 mo
• Soft Pull Credit Checks
• Prepayment Penalties - 1 - 5 yrs
• State Restrictions - All US, except MN, ND, OR, SD, VT, UT, NV and AZ
• No Rural or Short Term Rentals
• No Owner Occupied, Investor Only

Rehab

• Purpose - Rehab to Sell or Rent
• Property Types - 1-4 Unit Properties, PUDs, warrantable condos, townhomes, portfolios
• Loan amount - $150,000 - $3,500,000
• Max LTV's - 90% Purchase I 100% Rehab Funds
• LTARV- to 75%
• LTV used when Purchase Price is lower than Rehab Costs
• FICO - Min 600
• Borrower Type - Entity Only
• Experience - None
• Rates - Quoted daily
• Terms - 12  mo standard, 18 mo with exception
• Soft Pull Credit Checks
• Prepayment Penalties - None
• State Restrictions - All US, except MN, ND, OR, SD, VT, UT, NV and AZ
• No Owner Occupied, Rural, Investor Only

Construction

• Purpose - Vertical Construction Only
• Property Types - 1-4 Units, condos, townhomes
• Loan amount - $250,000 - $3,500,000
• Max LTC - Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
• Max 85% of total project costs & 90% for experienced Developers with 3+ similar projects
• LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
• LTARV - max 70%
• FICO - Min 600
• Borrower Type - Entity Only
• Experience - 1 - 2 min  and 3 + for experienced Developers
• Min Property Loans - 2 max and up to 10 for Experienced Developers with 3+ new builds
• Rates - Quoted daily
• Terms - 12  mo standard, 18 mo with exception
• Soft Pull Credit Checks
• Full Recourse
• Prepayment Penalties - None
• State Restrictions - All US, except MN, ND, OR, SD, VT, UT, NV and AZ
• No Owner Occupied, Rural, Investor Only