Current general term sheet for 1-4 family.

[Gary Turner]

RESIDENTIAL FIX & FLIP

Loan program, provides short-term funding for the acquisition of non-owner occupied 1-4 family residential properties. Cross-collateralization options are available for this program.

• BASIC LOAN CRITERIA
• Term12 Months
• Loan Amount$50k to $2.5M+
• LTVUp to 85% of the purchase price;
  Up to 65% Refinance;
  Up to 50% Cash-Out

• Property TypesNon-owner occupied 1-4 family residential
• FICONo set minimum

After Repair Value (ARV)

ARV program offers financing for up to 85% of the purchase price + up to 100% of the renovation costs, not to exceed 75% of the after repair value. Prior real estate investing experience is required to qualify for this product.

• BASIC LOAN CRITERIA
• Term12 Months
• Loan Amount$75k to $2.5M+
• LTV

Up to 85% of the purchase price + up to 100% of renovation costs; Not to exceed 75% of the ARV

• Property TypesNon-owner occupied 1-4 family residential
• FICO600 minimum

RESIDENTIAL FIX & LEASE

Bridge Financing For Rental Properties

Longer-term bridge financing for real estate investors who are looking to buy and hold non-owner occupied residential properties for rental income. A six-month extension is available for this product (a 2% fee will apply).

• BASIC LOAN CRITERIA
• Term18 Months
• Loan Amount$50k to $2.5M+
• LTV

Up to 85% of the Purchase Price; Up to 65% Refinance; Up to 50% Cash-Out

• Property TypesNon-owner occupied 1-4 family residential
• FICO660 Minimum

Buy-to-Rent Loans

Program offers a 24-month term, with a 12-month extension available, ensuring that our customers have rental property financing that goes the distance. (An extension fee applies)

• BASIC LOAN CRITERIA
• Term24 Months (12-Month Extension Available)
• Loan Amount$50k to $2.5M+
• LTV

Purchase – Lesser of up to 75% of the As-Is Value or Up to 75% Loan-to-Cost; Refinance – Up to 70% of the As-Is Value Cash-Out – Up to 65% of the As-Is Value

• Property Types1-4 Family & Multi-Family Non-Owner Occupied Real Estate; Condos; Townhomes; 5+ Apartments; Mixed-Use Properties
• FICO660 Minimum
• Property Value”As-Is” Appraised Value Must Be Greater Than $75k
• Rent Coverage Ratio1.25