Rehab Loan Program w/ Advance Draw For Gold & Platinum Borrowers!

[Fred Shatzoff]

Fico: 660+ (mid score). All other members must have 600+ fico. All members of the entity must pass a background and credit check.
Loan Terms: 6 - 24 months
Loan Amount: $75K to $2 Million. Any deal over 1M needs management approval.
Max LTV/ARV: Lender typically finances 80-90% of the purchase price and 100% renovations (based on borrowers experience tier). All loans are capped at 75% ARV. Max LTC is 85-87.5% depending on experience tier. Loan will also be the lessor of the ARV, LTC or eligible program.
Interest Rate: 8-11% based on experience. 8% for platinum borrows. (Min interest rate in NY, NJ & PA is 9%). Interest is charged on the full loan amount from day one.

Property Types: Only 1-4 unit investment properties! This includes Single Family Homes, 2-units, 3-units, 4-units, condos (with HOA approval) and town homes. Condo Conversions Welcomed.
Pre-Payment Penalty: None!

Use of Funds: Purchase, Refinance, Cash-Out Refinance & Rehab, Purchase & Rehab
Asset verification: No asset verification required. Lender actually requires now that all mortgage payments are rolled into the total loan amount for the term of the loan.

Lender Points: 1-2 points. Lender also has a $999 closing fee. $199 is taken upfront when LOI is issued to run credit and background check. Doc and legal review fee= $125. Tax service & onboarding fee= $89.00. Rehab Review Fee: $695

Lending Territory: Nationwide except (except DE, ID, ND, NV, OR, SD, UT, VT is $1M-2M only).

Draw Fee: $200 a draw. Deducted from built in rehab budget into loan.

Closing Time Frame: 21 days!
Special: No mortgage payments out of pocket. Experienced borrowers are eligible for advanced rehab draws. First draw funds within 3 days of closing.

Experience Tiers: Bronze: 0-1 fix and flips or fix and holds completed in past 36 months. Silver: 2-4 fix and flips or fix and holds completed in past 36 months. Gold borrower: 5-9 fix and flips or fix and holds completed in past 36 months. Platinum borrower: At least 10 fix and flips or fix and holds completed in past 36 months.

Borrower Experience: Flip experience is based on sold properties in past 36 months that turned a profit. Current rentals properties can also count towards a borrowers experience but the lender will only consider cash-flowing rentals that they acquired over 12 months ago.

Extra: This lender can finance wholesale fees up to the lessor of 10% or $50,000! Borrower can do 10 deals at once with this lender! Purchase price can be less than the rehab amount for any borrower w/ management approval.

I would love to help you Fund your next Real Estate deal.
Call Fred Shatzoff Today at 551-272-9066 [email protected]