Loan Programs
Programs – All
| Property Type: |
Residential – Residential is defined as 1-4 Family Units which includes: Single Family Homes, Townhomes, Condominiums, Duplexes, Triplexes, and Fourplexes.
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| Property Use: |
Investment Property Only – Investment is defined as Non-Owner Occupied, typically owned by a company for the sole purpose of investment whereby Owner has no intentions of occupying home today or in the future as a principal residence, second home, or vacation home
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| Collateral: | 1st Position Mortgage / Deed of Trust Only |
| Borrower: |
Nearly all Individuals and Entities are acceptable. We specialize in non-recourse applications such as Self-Directed IRA’s and Foreign National Borrowers.
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Programs – Specific
PurchaseUse this program to purchase ‘Rent Ready’ investment property. |
RefinanceUse this program to refinance an existing property. Refinance can payoff existing loans or used for ‘Cash Out’. |
RehabUse this program to purchase, renovate, and hold an investment property long term. |
ResaleUse this program to purchase, renovate, and resale. Optional 30 Year Loan available. |
| Loan Terms Purchase Refinance Rehab Resale | ||||||||||
| Intended Use | Buy-Hold | Cash Out-Hold | Buy-Fix-Hold | Buy-Fix-Sale | ||||||
| Note Term | ||||||||||
| Term | 30 Years | 30 Years | 30 Years | 6 Months | ||||||
| Construction Period | N/A | N/A | 60 Days | |||||||
| Loan to Value Ratio, LTV | 65.00% | 65.00% | 65.00% | 65.00% | ||||||
| Valuation | Appraisal or Purchase Price whichever is less | Appraisal | Subject-To Appraisal |
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| Note Rate & Payments | ||||||||||
| Interest Rate | 8.25% | 8.25% | 8.25% | 10.00% | ||||||
| Rate Type | 3/1 ARM | 3/1 ARM | 3/1 ARM | Fixed | ||||||
| Amortization Term | 30 Years | 30 Years | 30 Years | Interest Only | ||||||
| Construction Agreement | N/A | N/A | Yes | Yes | ||||||
| Lender Origination Points | ||||||||||
| Points | 4.50% | 4.50% | 6.00% | 4.50% | ||||||
| Minimum | $2,250 | $2,250 | $3,000 | $2,250 | ||||||
| Lender Servicing Fees | ||||||||||
| Underwriting | ||||||||||
| Credit Underwriting | $100 | $100 | $100 | $100 | ||||||
| Asset Underwriting | $300 | $300 | $300 | $300 | ||||||
| Construction/Asset | ||||||||||
| Construction Review | N/A | N/A | $125 | $125 | ||||||
| Doc Prep & Processing | $250 | $250 | $250 | $250 | ||||||
| Loan Servicing | $150 for all programs | |||||||||
*This list is not inclusive of all loan product options. Please contact us to learn more about our other programs. Click here to get pre-approved and lock your rate in today.