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Posted: Wednesday, October 11, 2017 8:18 AM

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PROGRAM DETAILS: 100% Purchase Money and Rehab Funds up to 65% ARV, Quick Closings and NO pre-payment penalties


New NO INCOME ARV Rehab Program - 85% of Purchase and 100% of Rehab to 75% of the ARV!!!!

PROPERTY TYPE: Residential non-owner occupied 1 - 4 family residential investment properties located the Continental US.

LIEN POSITION: First mortgages only. Minimum Loan Amount 75k.

STANDARD TERM: 12 Months.

REHAB FUNDS: We lend 100% of the purchase price and up to 100% of the rehab money - up to 65% of the After Repair Value. LTV variation depends on file and location.

RELEASE OF REHAB FUNDS: Rehab funds are usually paid in one to four draws after verification of repairs, and mailed to you or wired directly to your account.

CLOSING COSTS: Paid at closing.

GUARANTY: Personal guaranty required.

REQUIRED DOCUMENTS:
Completed loan application & supporting documents, including, but not limited to:
(i) Two years of federal tax returns
(ii) Two months most recent consecutive bank statements
(iii) Credit Report with 620 minimum credit score (obtained by Lender)
(iv) Company Disclosures
(v) Detailed Rehab estimate of work to be done and draw schedule

LOAN DOCUMENTATION:
Purchase Agreement
Builders Risk or Liability Insurance prepaid for term of loan
Inspection Report verifying work to be done and cost (obtained by Lender)
"As-Is" and "After-Repair" value Appraisal (obtained by Lender)
Title

QUICK CLOSINGS:
Once a borrower has been approved, closings can be held within a few days of receipt of appraisal and inspection reports along with proof of payment.

Email now for more details and/or how to get a property and project approved!

• Location: East Coast, Northwest Connecticut

• Post ID: 11806535 nwct
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