Purchase Transactions

Purchase

Purchase Rehab Program

  • Minimum Loan Amount
  • $75,000
  • Maximum Loan Amount
  • $50,000,000
  • Interest Rate
  • 8.00% – 12.00%
  • Origination Fee
  • 2.5 to 3 Points
  • Term Length
  • 12 to 18 Months
  • Time to Close
  • 2 to 3 Weeks
  • Purchase Funding
  • 85%
  • Rehab Funding
  • 100%
  • Maximum After Repair Value
  • 75%
  • Lien Position
  • 1st
  • Acceptable Markets
  • Nationwide Urban and Suburban
  • Minimum Personal FICO Score
  • 550
  • Minimum Experience
  • 1 Deal
  • Acceptable Property Types
  • 1-4 family residential and multifamily
  • Appraisal
  • $500 to $650
  • Legal Fee
  • $1,000
  • Only one applicant needs a 650 or higher FICO score to receive a 10% or lower rate.
  • Loan requests from applicants with FICO’s under 650 or less than 3 deals of experience should expect an 11-12% rate and 80% funding of the purchase price.
  • Rural Markets are case-by-case and are often funded, borrowers should expect an 11-12% rate.
  • Multifamily Rehab Loans are case-by-case: 75%-80% Loan to cost, $500K minimum loan size. The appraisal cost can range from $1000 to $5000+.
  • Old Appraisals Can be accepted on a case by case basis, however, we will often want to do a BPO to verify valuation.
Purchase