|
Non-Conforming
Construction/Rehab Financing
– private financing with uncommon flexibility
|
Loan amounts |
$100,000
to $2,000,000 |
|
Transaction Types |
Residential acquisition and construction |
|
Documentation |
Minimal |
|
Minimum credit score |
Not Used |
|
Credit History |
Not
Required |
|
Underwriting |
Collateral based |
|
LTV |
Purchase/rehab - 70% purchase price plus rehab cost (30%
cash down)
New construction - 50% land cost plus 100% construction
costs (seller financing ok) |
|
Program Structure |
12 month
term - interest only |
|
Prepayment Penalty |
90 days |
|
Property Types |
Buildable
land and residential real estate |
|
Close in |
Usually 2
weeks or less |
Restrictions apply. Rates and terms are subject to
change.
|
