Residential 1-4 Family
Questions about rental property financing answered
Long Term rental financing PrograM faq
Fix and Flip / Short Term Renovation Program FAQ
Renovation Lending Questions
Yes – we require an appraisal on all lending programs. Renovation and construction financing require a “subject to” appraisal. Long term purchase and refinance require “as is” valuations and a rent comparable analysis to determine fair market rent.
For SFR = 700 sq. ft. 2-4 family 500 sq. ft.per unit in the minimum.
Our minimum loan amount is $75,000, our origination charge is usually 2% – 3% of the loan amount.
The origination fee for loan amounts under $100,000 is a $2,000.00 flat fee plus .75% (3/4 of 1%) if a renovation loan.
All loans have other fees and charges including 3rd party fees for appraisal, & title, filing fees, taxes on the property and transaction. Our loan officers always provide detailed closing cost estimate with rate quotes.
30 Year - 1-4 Family
Yes – we have options for up to 10 years interest only payments.
Yes – we require an appraisal on all lending programs. Renovation and construction financing require a “subject to” appraisal. Long term purchase and refinance require “as is” valuations and a rent comparable analysis to determine fair market rent.
In Florida and Kentucky it’s 85% for Purchase 80% LTV in all other states. 80% rates and term, and 80% cash out allowed. These are maximum LTV’s – check guidelines for individual programs for any LTV caps or restrictions.
For SFR = 700 sq. ft. 2-4 family 500 sq. ft.per unit in the minimum.
Our minimum loan amount is $75,000, our origination charge is usually 2% – 3% of the loan amount.
The origination fee for loan amounts under $100,000 is a $2,000.00 flat fee plus .75% (3/4 of 1%) if a renovation loan.
All loans have other fees and charges including 3rd party fees for appraisal, & title, filing fees, taxes on the property and transaction. Our loan officers always provide detailed closing cost estimate with rate quotes.
Legal - Entity General
Yes – we require an appraisal on all lending programs. Renovation and construction financing require a “subject to” appraisal. Long term purchase and refinance require “as is” valuations and a rent comparable analysis to determine fair market rent.
For SFR = 700 sq. ft. 2-4 family 500 sq. ft.per unit in the minimum.
Property
Yes – we require an appraisal on all lending programs. Renovation and construction financing require a “subject to” appraisal. Long term purchase and refinance require “as is” valuations and a rent comparable analysis to determine fair market rent.