• Up to 65% LTV
• Multiple payment options, including "6 months no payments"  
• Fixed interest only payments
• No down payment required 
• No prepayment penalties
• No seasoning requirements
• Assignments Welcome 
• For SFR and 2-4 units 
• Close Quickly – Average closing in about 2 weeks

 Loan Costs – These costs can be rolled into the loan

• Interest rate: 15.9% to 18.9% (depending upon payment option used) 
• 8.5 points (after payoff of 3rd loan; points are reduced to 5.5 points) 
• Attorney, escrow, insurance, and recording costs normally associated with obtaining a mortgage

 Program Requirements

• Min credit score of 620 for "Monthly Payment" option
• Min credit score of 660 for "Half Monthly Payment" option
• Min credit score of 700 for "6 Months No Payment" option
• Full Documentation
• Assets: Min. 3 months payment reserves and 25% of proposed rehab budget in liquid reserves 
• 12 month terms
• Min loan amount = $30,000; max loan amount = $500,000
• Rehab budget is escrowed and is released as the work is completed

Upfront Costs – You’ll need to pay for these costs out of pocket

• Loan Application Fee: $100 per borrower (paid directly to lender at time of submission) 
• Appraisal: $300 (paid COD at time of inspection)
• 12 month Builder’s Risk insurance policy (paid in full prior to closing)

 DON'T FORGET YOUR EXIT STRATEGY!!!!

I can also handle the permanent residential mortgage for you or your end buyer.