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06-09-2015, 02:11 AM #1
Reputation points: 45
- Join Date
- May 2015
- Posts
- 33
USA SFR portfolio credit lines to $100mm - info@michaellewisgroup.com
For acquiring, rehabbing, and growing portfolios
$1MM Line or higher
12 month draw
Non-Recourse Loan
640 Minimum Credit score
Active partner (minimum of 10 transactions in the last 12 months)
No Bankruptcies, no Felonies
Rate is 9% I/O, 3 point
Lesser of 75%LTV or 85% LTC, Rehab funds max out at 35%
No collateral required other than properties acquired using the LOC
Lender looks mainly at track record - super fast commitment
Proof of Funds Letter supplied
$1mm to $100 million
Time to Close 30 days +/- ( LOC commitment 3-5 days)
USA properties only
info@michaellewisgroup.com
More loan types and application information
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