FAQ

Rehab Loan Programs are different in some states, please check your state. Stated Programs are available in
some states.

REHAB LOAN PROGRAMS

NOTE: Terms and conditions subject to change without notice. Please check with us to confirm terms.

Turnaround time (Closing time): About two weeks

Qualifying documents:

Program questionnaire (Each program varies)
Two years of Tax Returns (both personal and business) - Not for stated programs
Three months of Bank Statements (both personal and business)
Borrower W-2 pay stubs (obtained by lender)
Schedule of real estate owned
If business entity provide articles of incorporation and operating agreement

Project related documents:

Fully executed purchase contract
Provide HUD if it is a refi
List of improvements and associated cost (as per form provided through us)
Description of property (# of bedrooms, bathrooms, square footage, etc)

Use of proceeds

Typically 1 to 4 draws will be scheduled for improvements
Each draw requires inspection
Proceed should be used exclusively towards the subject property

Repayment: Monthly interest-only payments. Principal due at maturity. No prepayment penalties.
Property types: 1-4 family residential investments. 5-10 family on a case-by-case basis
Loan terms:            Maturity:   6 to 12 months. 9-month with program 1
                           Interest can be financed in program 2 and 4

	PROGRAM 1	PROGRAM 2	PROGRAM 3	PROGRAM 4
STATES/CITIES COVERED	States: OH, PA & IN Cities: Louisville, Minneapolis, Kansas City, St. Louis, Memphis, Nashville, Rochester, Syracuse, Buffalo, Charlotte, Raleigh/Durham, Detroit, Grand Rapids, Chicago Area	States: ME, NH, MA, RI, CT, NY, NJ, PA, VA, MD, DC, OH, MI, IN, NC, SC, FL, GA, AL, MS, LA, KY, TN, MI, WI, IL, MO, OK, LA, TX, NM, UT, CA & WA	States: FL, GA, IN, IL, MA, CT, NY, PA, VA, MD, DC, NJ, RI & TN	States: OR, MT, ID, WY, NV, AZ, ND, SD, NE, KS, IA & AR
LOAN-TO-VALUE AFTER REPAIRED	Up to 80%	Up to 70%	Up to 65%	Up to 65%
MIN CASH VERIFIED	15% of project	20% of project	20% of projects	15% of project
LOAN PRICING	Starting at 10%	Starting at 14%	Starting at 14%	16%
FULL DOCS	YES	YES	STATED & FULL	FULL DOC
MIN FICO SCORE	640	640	640	640