Rehab Loan
COMMERCIAL PURCHASE & REHAB FOR MIXED USE OR APARTMENT BUILDINGS - LG454
COMMERCIAL PURCHASE & REHAB FOR MIXED USE OR APARTMENT BUILDINGS - LG454
Summary of all Guidelines | |
| Loan Types | Rehab Loan |
| Property Types | 2-4 Units, Condo, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $250,000 |
| Loan amount Maximum | $5,000,000 |
| Interest Rate Minimum | 10.75% |
| Interest Rate Maximum | 12.75% |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2.5 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 20-30 Business days |
| Credit Score Min | 650 |
| Fees | Underwriting |
| Entities | LLC - Limited Liability Corporation |
| Cross Collateralize Blanket | No |
| Lien Position | 1st |
| Max Points Charge by Broker | 5 |
| Prepayment Penalty | No Prepayment Penalty |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse and Non Recourse available |
| Reserve Requirement | 6 months |
| General Pricing or Guideline info | Minimum As-Is Appraised Value: $50k |
| Updated as of | 2024-02-18 |
| Program Code | LG454 |
Minimum As-Is Appraised Value: $50k
These descriptions are limited information and meant for general reference purposes.