Rehab Loan
Program #LG427
Program #LG427
![Nationwide Mortgage](https://lendding.com/wp-content/uploads/2024/09/2087398000063096201_accounts_photo-150x113.png)
Summary of all Guidelines | |
Loan Types | Rehab Loan |
Property Types | 2-4 Units, Condo, Multi Family, SFR |
Lendding Area | arizona, california, colorado, connecticut, delaware, florida, georgia, kansas, maryland, massachusetts, missouri, new-jersey, north-carolina, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, washington, west-virginia |
Loan amount Minimum | $85,000 |
Loan amount Maximum | $10,000,000 |
Interest Rate Minimum | 8.5% |
Interest Rate Maximum | 13.5% |
Points Maximum 1st TD | 2.5 |
Terms | 1 year, 18 month |
Typical Days Required to Fund | 11-15 Business days |
Credit Score Min | 680 |
Interest Only or Amortized | Interest Only |
Fees | Underwriting |
Entities | Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Taking Title Personally not permitted |
Lien Position | 1st |
Prepayment Penalty | No Prepayment Penalty |
Documents needed | Application, Appraisal, Bank Statements, Bank Statements - Business Account - 3 month, Credit Report, Driver's license, Entity documents for LLC, Corp or Trust, Purchase Contract |
Intended Occupancy | Vacant, Tenant, Non-owner occupied |
Fixed or Adjustable | Fixed |
Recourse | Recourse |
Reserve Requirement | None |
Updated as of | 2024-01-17 |
These descriptions are limited information and meant for general reference purposes.
- Noelle Wheeler