Bridge Loan
ARV Pro Loan - LG312
ARV Pro Loan - LG312
Summary of all Guidelines | |
| Loan Types | Bridge Loan |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $75,000 |
| Loan amount Maximum | $2,000,000 |
| Interest Rate Minimum | 9% |
| Interest Rate Maximum | 11.25% |
| Points Minimum 1st TD | 2 |
| Points Maximum 1st TD | 5 |
| Terms | 1 year |
| Credit Score Min | 650 |
| Interest Only or Amortized | Interest Only |
| Fees | Underwriting |
| Extensions Available | Yes |
| Lien Position | 1st |
| Max Points Charge by Broker | 3 |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant |
| Fixed or Adjustable | Fixed |
| General Pricing or Guideline info | General Guidelines Purpose Provide funds to improve or rehab properties. (Purchase and refinance OK.) Loan Amounts $75K - $2MM up to 75% of the ARV and 80% of ”as-is” value. Initial Loan Amount 80% (Lower of purchase price or current value.) Improvements Schedule of improvements required. (Inspection fees per draw apply.) Term 1-year, interest only. 6 month extension at 1% in fee. Credit Score 650 minimum (mid FICO). Prepayment Premium None. Rate Buydown 1-point fee = .375% rate reduction. (Maximum .75% rate reduction.) | Minimum Rate 8.99%. Broker Fees Maximum is 5% of the loan amount, including broker fees. Lender Fees 2% + underwriting fee of $999. Underwriting Guidelines Lending Nationwide, except for rural properties. Contact your loan officer for details. Experience Proof of prior real estate investment or ownership. 70% maximum LTV for first-time investors. Income Verification Simple documentation. Down Payment Must be sourced. Heavy Rebuild / Add-Ons Rehab proceeds >50% of loan amount case-by-case basis. No ground up construction Appraisal Process Contact your Account Executive to learn about our streamlined process and cost. Impounds None. Foreign Investors 65% maximum LTV. |
| Updated as of | 2023-11-10 |
| Program Code | LG312 |
General Guidelines
Purpose Provide funds to improve or rehab properties. (Purchase and refinance OK.)
Loans Amounts $75K - $2MM up to 75% of the ARV and 80% of ”as-is” value.
Initial Loans Amount 80% (Lower of purchase price or current value.)
Improvements Schedule of improvements required. (Inspection fees per draw apply.)
Term 1-year, interest only. 6 month extension at 1% in fee.
Credit Score 650 minimum (mid FICO).
Prepayment Premium None.
Rate Buydown 1-point fee = .375% rate reduction. (Maximum .75% rate reduction.) | Minimum Rate 8.99%.
Broker Fees Maximum is 5% of the loan amount, including broker fees.
Lender Fees 2% + underwriting fee of $999.
Underwriting Guidelines
Lending Nationwide, except for rural properties. Contact your loan officer for details.
Experience Proof of prior real estate investment or ownership. 70% maximum LTV for first-time investors.
Income Verification Simple documentation.
Down Payment Must be sourced.
Heavy Rebuild / Add-Ons Rehab proceeds >50% of loan amount case-by-case basis. No ground up construction
Appraisal Process Contact your Account Executive to learn about our streamlined process and cost.
Impounds None.
Foreign Investors 65% maximum LTV.
