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07-06-2018, 09:27 AM #1
- Join Date
- Dec 2016
- Location
- New York
- Posts
- 30
15/30, Fix&Flip, 600 Fico, $75k-2.5M
Bridge Lending Criteria
Loan Amount: $75K-$2.5M
Minimum Credit Score 600
LTV on purchases: Up to 85% of the as-is value or the purchase price, whichever is lower. Up to 100% of the rehab costs, funded in draws. ARV as high as 75%.
Rates: 9.99-11.99% Interest only
Term: 12 Months or 18 Months with an option for an additional 6 months
Collateral: Non-Owner Occupied Real Estate Only
Closing: 10-15 Business days
Loan Type: Single Family, Multi-family, Bridge Loans, Real Estate Acquisition, Short sales,
REOs, and Bank-Foreclosed Residential Properties
Lending Area: Nationwide
Lending Criteria 30 year product
Minimum Credit Score 660
Loan Amount: $75K-$1.0M
LTV on purchases: Up to 80% of the as-is value or the purchase price, whichever is lower. Up to 75% LTV on a no cash out refinance, up to 70% on a cash out refinance
Rates: 5.99-7.99% amortized
30 years, fixed rate
Collateral: Non-Owner Occupied Real Estate Only
Closing: 10-15 Business days
Property type limited to 1-4 family rentals
Lending Area: Nationwide
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