| LOAN PURPOSE | - Exposure limit up to $10MM for experienced investors
- Up to $500K exposure limit for borrowers with zero experience
|
| INTEREST RATE | 6.75% and up |
| LOAN AMOUNT | $50K - $2MM (max $500k for inexperienced investors) |
| TERM | 12 months (standard), with optional extensions |
| BORROWER TYPE | Individual or Entity |
| MAXIMUM LOAN-TO-VALUE (LTV) | Up to 75% of After Repair Value (ARV) |
MAXIMUM LOAN-TO-COST (LTC)
COST IS PURCHASE PRICE AMOUNT | 90% |
| WHEN DO WE USE LTV VS LTC? | Generally, we use the lesser of LTV or LTC calculation |
| REHAB/CONSTRUCTION FINANCING | Funding up to 100% rehab budget up to % Approved LTV of Total Costs |
| PROPERTY TYPES | Non-Owner Occupied:- Single Family Residences (SFR)
- 2-4 unit properties
- Multi-family 5-20 unit properties
- Mixed-use
- Detached or townhouse style condos
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