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- Rehab
Loans -
Whether you are an
experienced or novice "Rehabber", we have a great program for you!
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Apply Now |
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General Guidelines |
Documentation
Needed |
- Minimum of 630 credit score to qualify
- Minimum of $20K
total liquidity
- Can close in the name of business entity
- Residential 1-4 Family
- non-owner occupied only
- 100% of renovation funds are typically advanced in 1 to 4 draws
- 100% renovation funds are escrowed and wired directly to the borrower’s
account upon completion of each rehab phase
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- Two years Tax Returns (both personal and business)
- Three months Bank Statements (both personal and business)
- Entity documents (EIN #, Certificate, Articles of Organization/Operating
Agreement)
- Purchase Agreement (signed by all parties)
- Summary of Rehab Work to be Completed (lender supplied document)
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Rehab Program
Options |
Option 1 |
Option 2
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Option 3 |
Option 4 |
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LTV: Based
upon after-repaired value |
75% |
75% |
70% |
70% |
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Credit Score
required** |
640 |
640 |
660 |
690 |
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Interest Rate
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14.99%
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14.99%
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14.99%
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14.99%
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Points*
(financed) |
4.00 |
5.00 |
6.00 |
7.00 |
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Rehab: |
100%
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100%
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100% |
100% |
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Advance:
Of total project cost |
85% |
90% |
95% |
100% |
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* Points minimum
$2,500. Points reduced with repeat business.
**Under 640 credit considered on a case-by-case basis.
*** Terms subject to change at the sole discretion of lender
Financing is not
offered in these states: Alaska, Arizona,
Arkansas, Hawaii, Idaho, Iowa, Kansas, Montana, Nebraska, Nevada, North
Dakota, Oregon, South Dakota, Vermont, West Virginia, Wyoming
Apply Now
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