• 6 Points and 15% Interest (No Monthly Payments!) (Not available in the state of Florida)
• 8 Points and 10% Interest (No Monthly Payments!)
• 12 Points and 12% Interest (Monthly payment required- Less than 680 Credit Score considered but an end loan must be in place before funding)

Please note: We does not charge application fees, inspection fees, underwriting fees, or any other "junk fees" that other lenders often hide from the borrower.

Duration of Loans
This also varies for each lender but the typical time frame of the loan is for a maximum of six (6) months. The borrower must have the property refinanced and the loan repaid by the six (6) month deadline.

Loan Amount
Most of our lenders will make loans for up to 100% of the purchase price and 100% of the repair funds so long as the LTV does not exceed 73% of the ARV (after repair value). If your credit score is less than 680, the LTV must be less than 68% of the ARV.

LTV
The maximum loan to value (LTV) we will lend is 73% LTV, which is based on the after-repaired-value (ARV) of the property. The LTV calculation will include the purchase price, construction costs, purchase closing costs, points, and an interest reserve for the term of the loan. For loan amounts over $375,000, the maximum LTV we will fund is 68% LTV and we reserves the right to request a down payment at closing from the borrower.

Appraisals
All appraisals will be ordered by the lender upon receipt of the loan application. Borrower provided appraisals will not be accepted. The appraiser will request the full scope of work and construction costs from the borrower directly. We will not fund any loans with less than a $50,000 ARV. For properties with an ARV between $50,000 and $60,000, the LTV will be capped at 65%.

Closing Attorney and Settlement Offices
An approved title company of settlement company must serve as the closing agent.

Payments and Other Responsibilities
Payment requirements vary with each lender. Some lenders require monthly interest payments and other lenders roll an interest reserve into the loan and a monthly draw is paid to cover the interest cost. Other lending resources do not require payments during the six month loan term. If the lender agrees with the borrower to extend the loan after the 6 month loan term period has elapsed, the borrower will be responsible for making an extension fee payment and monthly interest payments (including penalties). The borrower will also be responsible for ordering builders risk and general liability insurance on every property prior to the purchase closing, turning on all necessary utilities for construction, carrying out all necessary construction, obtaining any necessary permits, and staying current on all property taxes levied by the city in which the property is located.

Please Note:
It is the borrowers responsibility to maintain an email account and keep us informed of any email and/or telephone changes. Failure to keep us informed of these changes will result in non-communication with us.