Rehab Loan Application
_________________________________________________________________________ Rehab Program Guidelines: Credit Score: Minimum of 680 to qualify. PROPERTY TYPE: Residential home 1 - 4 Family, non-owner occupied small apartment; condo conversions on a case-by-case basis. LIEN POSITION: First mortgage only. LINE TERM: 12 months renewable thereafter with limited credit review. LOAN TERM: 6 months, extend able for up to 13 months. LTV: Up to 75% of After-Repaired Value. RENOVATION FUNDS: 100% of renovation funds are typically advanced in 1 to 4 draws. Once inspector certifies work is done, funds are wired within 24 hours directly to the investor’s account. PRICING OPTIONS: We have various pricing options based upon experience, financial condition and projected loan volume. INTEREST PAYMENTS: No payments for 6 months. QUALIFYING DOCUMENTATION: Two years Tax Returns (both personal and business) Three months Bank Statements (both personal and business) Rehab Program Loan Application
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