600+ Credit - No
Seasoning on Title -
Cash Out Refinance
30 Year Financing
Or 12-24 Month Bridge
Renovation & Construction Take
Out Loans With
Cash Out!
FOR NO SEASONING ON TITLE LOANS
Requires 90% of improvements to be completed to the property. No Prior Experience Required.
RENOVATION & CONSTRUCTION TAKE OUT LOANS
Designed to provide Builders and Fix and Flip clients with the flexibility to access funds before the completion of a project by using the current “As-Is” value at the current stage of the project.
General Funding Guidelines
Funding Available In The Following States:
AL, CO, CT, DC, FL, GA, HI, IL, IN, LA, MA, MD, MI, MO, NC, NJ, OH, OK, PA, SC, TN, TX, VA, WA, WI
Program Highlights:
No Minimum Seasoning On Title!
No Prepayment Penalty!
No personal income verification!
Close in about 15 business days with clear title!
No escrows of taxes and insurance!
Single family, 2-4 units, condo’s & townhomes!
Properties listed for sale OK!
Vacant properties OK!
No employment verification!
Up To 80% LTV!
24 Hour Pre-Qualification With No Credit Pull Required
Qualifying Credit/Experience & Loan Amounts
– Minimum qualifying credit score is 600+.
– Qualifying credit score of 700+ required for max 80% LTV cash out (available only when renovation included).
– Loan amounts are from $100,000.00 – $5,000,000.00 for single family and 2-4 units, including condo’s and townhomes.
Term Of Financing
– 30 year term available.
– Short term 12-month bridge and long term 30-year financing available.
Property Types
– Single Family, 2-4 units, town-homes, condo’s.
Seasoning On Title Requirement
– No seasoning on title requirement to use current appraised value requires 90% of improvements to have been completed to the property.
– After 6 Months On Title – Use current appraised value.
Title Vesting
– Closing must be executed in the name of a business entity (LLC, S-Corp, C-Corp).
Property Appraisal
– Traditional property appraisal is required.
Loan Fees
– Loan origination: 2.99% or $4,895.00 (whichever is greater)
– Processing: $1,395.00
– Admin: $895.00
Required Documents For Underwriting Approval
– Clear and legible copy of government issued ID (all members of business entity)
– Copy of HUD Settlement Statement from acquisition of property
– Copy Of IRS EIN Letter for business entity (if applicable)
– Copy of Articles of Organization for LLC or Incorporation for a Corporation (if applicable)
– Copy of Operating Agreement for LLC or Corporate Charter/Bylaws for Corporation
– Interior & exterior photos of the subject property.
– For Properties Renovated Within Last 12 Months: Copy of original scope of repair work OR list of repairs with associated cost (TEMPLATE PROVIDED).
