Residential Fix & Flip [ 1 - 4 units ]
|LOAN TYPE||Residential Business Purpose
|LOAN AMOUNT||$75,000 to $5,000,000|
|MAX. TERM AMORTIZATION||Up to 36 months
|INTEREST RATE||Starting at 8%|
|ORIGINATION FEE||Starting at 2%|
|LOAN-TO-VALUE [ LTV ]||Up to 75% of “as is” value not to exceed 90% LTC
Up to 70% LTARV on loans with construction reserves
Up to 65% LTV for cash-out refinance
|RECOURSE||Personal guaranty is required for entity borrowers and at least one guarantor must be owner of the borrower entity.
Individual borrowers are allowed.
|LIEN TYPE||1st position trust deeds and mortgages|