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Velocity Mortgage Capital

Bridge Loan
Flex I/O Loan - LG313

Velocity Mortgage Capital

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.

These descriptions are limited information and meant for general reference purposes.