Bridge Loan
Flex I/O Loan - LG313
Flex I/O Loan - LG313
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 |
| Program Code | LG313 |
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.
