600+ Credit - Purchase & Refinance
30 Year Term & Short Term Fix and Flip Funding!
"Construction & Renovation Take Out Loan"
600+ CREDIT – NO SEASONING ON TITLE – CASH OUT REFINANCE
30 Year Financing Or 12-24 Month Bridge
Includes Renovation & Construction Take Out Loans With Cash Out!
FOR NO SEASONING ON TITLE LOANS: Requires “some” improvements have been done to the property. No Prior Experience Required.
RENOVATION & CONSTRUCTION TAKE OUT LOANS: 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.
General Funding Guidelines
AL, 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
- No Minimum Seasoning On Title!
- No Prepayment Penalty!
- No personal income verification!
- Close in about 15 days with clear title!
- No escrows of taxes and insurance!
- Single family, 2-4 units, condo’s & townhomes!
- Properties listed for sale OK!
- Vacant properties OK!
- No employment verification!
- Up To 80% LTV!
24 Hour Pre-qualification With No Credit Pull Required – Click Here
Qualifying Credit/Experience & Loan Amounts:
– Minimum qualifying credit score is 600+.
– Qualifying credit score of 700+ required for max 80% LTV cash out (available only when renovation 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-month bridge and long term 30-year 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 “visible improvements” have been completed to the property.
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).