Loans Parameters:

Purpose

Investment property loans for rehab financing (purchase or refi)

Minimum Experience

No experience needed. Experience is defined as a 36-month lookback period(includes flips, builds, and rentals)

Individual Loan Size

$50K - $200K

Multi-Family and Mixed-Use Properties 

Standard Rehab: 80% LTC | 70% ARV LTV Extensive Rehab: 75% LTC | 65% ARV LTV

Borrower Type

Individuals and Entities (LLC, Corporation). Foreign Nationals eligible.

Eligible Properties

Non-owner occupied: SFR, 2-4 units, Condos, Multi-family, Mixed-Use

Loan term

From 6 to 12 months, and only pays interest at a fixed rate. 

Ineligible Project Scope

Tear downs, modular, ADU’s, add a story, remove exterior walls, addition > 500 square feet, conversions, and adding units is on exception basis only), no new construction.

Valuation Requirements

No-fee alternative valuation option for eligible properties4; otherwise, full narrative appraisal with “as-is” and “ARV” values required. No rural properties.

Liquidity Requirement

Down payment + Closing Costs + 10% of the Total Holdback + any Equity Shortage + Required Reserves

Types of Income Documents Allowed:

• CPA/ Accountants Letter required when self employed.
• 12 Month Bank Statements.
• Two years of 1099’s.
• Two years of W2’s.
• Lease agreement on rental income from existing property.
• Two years tax returns.
• Verification of Employment for the last 2 years.