Use |
Acquisition & Development of Real Estate |
| Rate & Points | Starting at 0 Points & 9.99%* |
| Property Type | Single-family, Multi-family, condos/townhouses, Commercial (case by case) and New Construction |
| Occupancy | Non-Owner Occupied |
| Down Payment | Minimum 15% – 25% of Acquisition Price |
| Underwriting | LTV not to exceed 70% of After Repair Value x LTC not to exceed 85% |
| Personal Guarantees | Required |
| Eligible Borrower Type | LLC’s or Corporation’s only |
| Pre-Payment Penalty | None |
| Yield Maintenance | None |
| FICO | 660+ |
| Loan Amount | $150,000 – $10,000,000 |
| Track Record | Two Completed deals within the past 24 months. |
| Appraisal Method | Broker In-House Valuation and 3rd Party Appraisals |
*Rates and points based on deal and borrower experience