Rehab Loan
- LG342
- LG342
Summary of all Guidelines | |
| Loan Types | Rehab Loan |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | alabama, florida, georgia, illinois, indiana, missouri, north-carolina, ohio, pennsylvania, south-carolina, tennessee, texas, virginia |
| Loan amount Minimum | $50,000 |
| Loan amount Maximum | $450,000 |
| Interest Rate Minimum | 11% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1.5 |
| Points Maximum 1st TD | 2 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 6-10 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant |
| General Pricing or Guideline info | Rehab Loans for Investors •Lending for New and Experienced Investors •Direct Lender •Fast Answers and Efficient Closings •No Income Documentation Program Summary Straightline's Rehab Loan Program provides investors with fast approvals and closings. After closing we utilize a simple, flexible draw process to make sure your project stays on track. We look forward to working with you. All Levels of Investors Welcome •Rates: 11% to 12% •12 to 15 Month Terms •Interest Only Payments •Up to 90% of Purchase •Up to 75% of ARV •100% of Renovations Funded •Rehab Loans Available in metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA •1 to 4 Family Properties •No Tax Returns Required •No Prepayment Penalties •Simple Draw Process •680 Minimum Credit Score •7-10 Business Day Close •Fix to Flip or Fix to Rent |
| Updated as of | 2023-11-16 |
| Program Code | LG342 |
Rehab Loanss for Investors
•Lending for New and Experienced Investors
•Direct Lender
•Fast Answers and Efficient Closings
•No Income Documentation
Program Summary
Straightline's Rehab Loans Program provides investors with fast approvals and closings. After closing we utilize a simple, flexible draw process to make sure your project stays on track. We look forward to working with you.
All Levels of Investors Welcome
•Rates: 11% to 12%
•12 to 15 Month Terms
•Interest Only Payments
•Up to 90% of Purchase
•Up to 75% of ARV
•100% of Renovations Funded
•Rehab Loanss Available in metro areas of AL, FL, GA, IL, IN, MO, NC, OH, PA, SC, TN, TX & VA
•1 to 4 Family Properties
•No Tax Returns Required
•No Prepayment Penalties
•Simple Draw Process
•680 Minimum Credit Score
•7-10 Business Day Close
•Fix to Flip or Fix to Rent
