600+ Credit - Purchase & Refinance

30 Year & Short Term Bridge Funding!

"Construction & Renovation Take Out Loan"

600+ CREDIT – PURCHASE – REFINANCE & CASH OUT REFINANCE

30 YEAR TERM OR 12-24 MONTH BRIDGE FINANCING

 Includes Renovation & Construction Take Out Loans With Cash Out!

 
FOR NO SEASONING ON TITLE REFINANCE CASH OUT LOANS:   Requires “90%” of improvements to be completed.  No Prior Experience Required.  Designed to provide Builders and Fix and Flip clients with the flexibility to access funds before the completion of a project by using the current “As-Is” value at the current stage of the project. 
6 MONTHS ON TITLE Use current appraised value. 
 

General Funding Guidelines

Funding Available In The Following States:

AL, CA, CO, CT, DC, FL, GA, HI, IL, IN, LA, MA, MD, MI, MO, NC, NJ, OH, OK, PA, SC, TN, TX, VA, WA, WI

 
Program Highlights

24 Hour Pre-qualification With No Credit Pull RequiredClick Here

Qualifying Credit/Experience & Loan Amounts:

– Minimum qualifying credit score is 600+.

– Qualifying credit score of 700+ required for 80% LTV cash out (available only when renovation funding included).

– Loan amounts are from $100,000.00 – $5,000,000.00 for single family and 2-4 units, including condo’s and townhomes.

 

Term Of Financing:

–  30 year term available

–  Short term 12 & 24 month bridge financing available. 

Property Types

Single Family, 2-4 units, town-homes, condo’s.

 

Seasoning On Title Requirement

No seasoning on title requirement to use current appraised value when “90% of improvements/construction completed”.    

After 6 Months On Title – Use current appraised value.

 

Title Vesting

Closing must be executed in the name of a business entity (LLC, S-Corp, C-Corp).

 

Property Appraisal

Traditional property appraisal is required.

 

Loan Fees:

– Loan origination:  2.99% or $4,895.00 (whichever is greater)

– Processing: $1,395.00

– Admin:  $895.00

 

Required Documents For Underwriting Approval

– Clear and legible copy of government issued ID (all members of business entity)

– Copy of HUD Settlement Statement from acquisition of property

– Copy Of IRS EIN Letter for business entity (if applicable)

– Copy of Articles of Organization for LLC or Incorporation for a Corporation (if applicable)

– Copy of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation

– Interior & exterior photos of the subject property.

– For Properties Renovated Within Last 12 Months:  Copy of original scope of repair work OR list of repairs with associated cost (TEMPLATE PROVIDED).

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