Loan Fees

  • *Interest Rates starting as low as 10% (interest-only payments)
  • **As low as 3-4 points origination (3%-4%) (depends on dealand location)
  • Appraisal Fee: $TBD on average (varies by market and turnaroundtime needed)
  • Draw Inspection Fee – $TBD
  • Loan Documents: $475
  • Loan Admin Fee: $500
  • Credit Report Fee: $45
  • Flood Certifi cate Fee: $15
  • Monthly Servicing Fee: $15

Loan Terms

  • A mortgagee’s title policy is required.
  • An insurance policy is required on all loans for the term of the loan.
  • Up to 75% of the After Repaired Value in Rental properties (excluding points and fees), not to exceed 100% of cost. Proof of Refinance Required
  • Up to 70% of the After Repaired Value on Flips (excluding points & fees), not to exceed 100% of cost.
  • 6-month term
  • 3-month optional extension (extension fees may apply). Year extensions will require a reappraisal.

 

Borrower Criteria

  • Minimum Credit Score of 650
  • Minimum of $15,000 to $25,000 or more in a Checking, Savings, IRA and/or 401(k) account
  • No Recent Bankruptcy or Foreclosures (subject to review by “The Company”)