Rehab Loan
Program #LG427
Program #LG427
Summary of all Guidelines | |
| Loan Types | Rehab Loan |
| Property Types | 2-4 Units, Condo, Multi Family, SFR |
| Lendding Area | California, Florida |
| 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.
