Fix and Flip & Low Doc Rental Loans

[David N.]

Low Doc Rental Loan

Property Types: Residential 1-30 Units

Term: Fixed and ARMs

Rates: As low as 6.375%

Purchase or R&T Refinance: 85% LTV

Cash Out Refinance: Up to 75% LTV

Occupancy: Non-Owner Occupied

Lender Points: 1%

Prepayment: 3 year

Seasoning Requirements: Call for details

Debt Service Coverage Ratio: 1x

Appraisal Required: Yes

Max Loan Amount: $1.5M

Min Loan Amount: $60K

Min Credit Score: 620

Fix and Flip Line

Property Types: Residential 1-4 Units

Term: 9 month interest only

Rates: As low as 7.25%

Max As-is Purchase Price (LTC): Up to 90%

Max Renovation Cost: Up to 100%

Max After Repair Value (ARV): Up to 70%

Occupancy: Non-Owner Occupied

Lender Points: 2%

Prepayment: 3 month

Seasoning Requirements: Call for details

Purchase or Refinance: Ok

Appraisal Required: Yes

Max Loan Amount: $5M

Min Loan Amount: $50K

Min Credit Score: 600