Fix and Flip & Low Doc Rental Loans

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Fix and Flip & Low Doc Rental Loans

Lender · Elmhurst, IL · Member since 2018 · 100 posts · 24 votes

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
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    • Shanara CarterPro Member
      Real Estate Broker · Chicago, IL · Member since 2015 · 2 posts · 2 votes
      7y

      Hi David, 

      Can you tell me which bank this is? I am an investor and realtor as well. let me know we can connect? 

      thank you in advance for your time 

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