(240) 474-9774

Benefits for Borrower

QUALIFICATION

• 620 Minimum FICO Score  (12 Month Term)

• 680 Minimum FICO Score  (30 Year Term)

• Scores below 660 will require 6 month Cash Reserves

• Down Payment 

• Closing Cost 

• No Derogatory Public Records in the Past 2 Years

 12 MONTHS TERMS

 Loan Amount :$50k – $2M (above $3M check with me) for 1-4 Family,

• No Pre-Payment Penalty                      

• Interest Only Loan                                                 

• 6-Month Extension Available 

MAX LEVERAGE  (12 MONTH TERM)

·       Light Rehab: Up to 85% of Purchase Price + 100% of Renovation Costs; Not to Exceed 70% of the ARV, loan capped at 90% total loan to cost (purchase + rehab)

·       Moderate Rehab: Up to 85% of Purchase Price + 100% of Renovation Costs; Not to Exceed 70% of the ARV, loan capped at 90% total loan to cost (purchase + rehab)

·       Heavy Rehab: Up to 75% of Purchase Price + 100% of Renovation Costs; Not to Exceed 60% of the ARV

       RATES:  Starting at 10.49%  (subject to change)

ELIGIBLE PROPERTIES

• 1-4 Family Real Estate

• Condos

• Townhomes

30 YEARS TERM

Loan Amount: $65K-$1.5M 

Amortization Options: 30-Year Fixed; Interest only, and ARMs

MAX LEVERAGE  (30 Years TERM)

Purchase: Up to 75% of purchase price (720+ score)

Purchase: Up to 80% of purchase price (740+ score)

Rate: Starting at 6.49% for 1-4 family properties

Prepayment Penalty: 0-5 years, shorter prepay periods will have higher rates

Minimum DSCR of 1.10, if credit less than 720, minimum DSCR of 1.20