Rehab Loan
Fix and Flip Loan
Program #LG114
Fix and Flip Loan
Program #LG114
Summary of all Guidelines | |
| Loan Types | Rehab Loan |
| Property Types | 2-4 Units, Condo, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $125,000 |
| Loan amount Maximum | $5,000,000 |
| Interest Rate Minimum | 8.25% |
| Interest Rate Maximum | 10.25% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month, 30 year |
| Typical Days Required to Fund | 20-30 Business days |
| Credit Score Min | 600 |
| Interest Only or Amortized | Interest Only |
| Fees | Legal Review |
| Lien Position | 1st |
| General Pricing or Guideline info | - Interest Rate: 8.25%+ Long-Term, 10.25%+ Bridge. - Origination Fee: 1 to 1.5 Pts Long-Term, 1.5 to 2 Pts Bridge. - Time to Close: 2 to 3 Weeks. - Acceptable Markets: Nationwide Urban and Suburban. - Minimum Personal FICO Score: 620 Bridge, 680 Long-Term. - Minimum Experience: We Lend to First-timers. - Acceptable Property Types: 1-4 Family, Multifamily, Condos, PUDs. |
| Updated as of | 2023-10-23 |
- Interest Rate: 8.25%+ Long-Term, 10.25%+ Bridge.
- Origination Fee: 1 to 1.5 Pts Long-Term, 1.5 to 2 Pts Bridge.
- Time to Close: 2 to 3 Weeks.
- Acceptable Markets: Nationwide Urban and Suburban.
- Minimum Personal FICO Score: 620 Bridge, 680 Long-Term.
- Minimum Experience: We Lend to First-timers.
- Acceptable Property Types: 1-4 Family, Multifamily, Condos, PUDs.
- Brad Sharp
Senior Loan Officer
