Bridge Loan
Flex I/O Loan
Program #LG313
Flex I/O Loan
Program #LG313
![Velocity Mortgage Capital](https://lendding.com/wp-content/uploads/2024/09/2087398000005261058_accounts_photo.png)
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 | 12.75% |
Points Minimum 1st TD | 2 |
Points Maximum 1st TD | 5 |
Terms | 2 year |
Credit Score Min | 675 |
Interest Only or Amortized | Interest Only |
Fees | Underwriting |
Extensions Available | No |
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 Purchase and refinance transactions.* Loan Amounts $75K - $2MM. Term 24 months, interest only. Credit Score 675 minimum. 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 all broker fees. Lender Fees 2% + underwriting fee of $999. Underwriting Guidelines Lending Locations nationwide. (For ineligible locations, contact your Account Executive for details.) Experience First Time Investor MAX 65% LTV. Income Verification Simple documentation. Down Payment Must be sourced. 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 |
General Guidelines
Purpose Purchase and refinance transactions.*
Loans Amounts $75K - $2MM.
Term 24 months, interest only.
Credit Score 675 minimum.
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 all broker fees.
Lender Fees 2% + underwriting fee of $999.
Underwriting Guidelines
Lending Locations nationwide. (For ineligible locations, contact your Account Executive for details.)
Experience First Time Investor MAX 65% LTV.
Income Verification Simple documentation.
Down Payment Must be sourced.
Appraisal Process Contact your Account Executive to learn about our streamlined process and cost.
Impounds None.
Foreign Investors 65% maximum LTV.
- Christian Guzek