QUALIFICATION

INVESTOR DOCUMENTATION

Updates, required once every 12 months
Signed credit authorization form
Schedule of Real Estate Owned / List of Past Projects
Signed spousal consent (if guarantor is married/separated and living in a community property state)
Business entity documents
Bank Statements

INVESTOR QUALIFICATION

0-4 flips in last 2 years (more properties closed, lower ARV and rates)
640 minimum FICO2
No unresolved bankruptcy or filings within the last 24 months
No outstanding mortgage delinquency of 90 days or more
No felony convictions within the last 7 years
Personal Guarantee required
No Tax returns No Income Close in Business name

PROPERTY DOCUMENTATION

Required for each loan
Executed purchase and sale agreement
Scope of work
Hazard insurance contact information
Title / Escrow agent contact information
Property access instructions
Property Pictures: Exterior pictures required; Interior pictures recommended

LOAN TERMS

Purchase and refinance
Minimum loan amount: $75,000
Maximum loan amount: $1,000,000.00
12-month term, 18-month term, and 24-month term
Interest ONLY with no prepayment penalty
3 yr. arm, 5 yr. arm, 7 yr. arm,10 yr. arm or 30 yr. fix

MAX LEVERAGE

Finances up to 90% to 100% of purchase price
Finances up to 90% to 100% of the Renovation cost
65% to 70% of After Repair Value (ARV)
65% to 70% of the Loan to Cost (LTC)