| NON-CONFORMING (Long-Term) | Max LTV | Loan Limits |
|---|---|---|
| Multifamily | 80% – 90% | $100k – $100MM+ |
| 1-4 Units | 80% – 90% | $100k – $100MM+ |
| Office | 80% | $100k – $100MM+ |
| Industrial | 100%/75% | $100k – $100MM+ |
3 to 6-months mortgage reserves are required
Loan limits range from $100k to $10MM on 1-4 unit properties
Recourse and Non-Recourse options available.
650+
30 to 45 Days
Fix & Flip - Rehab Loans do not typically have a prepayment penalty beyond month four.
Non-Conforming Fix & Flip - Rehab Loans are for borrowers intending to hold the property for 4 to 18-months before selling or refinancing. Experience is not required, but does affect over rate and terms.
An initial disbursement is completed at the time of purchase or refinance up to 90% to 100% of the property existing value/purchase price. Increment disbursements are provided throughout
Multifamily 5+ Units: 12 to 18-months, interest-only 1 to 4 Units Residential: 12 to 18-months, interest-only
FULL or LITE-DOC UNDERWRITING Rent Roll (if applicable) P&L / Last 12 to 24-months (if applicable) Borrower 1003 or Personal Financial Statement Schedule Real Estate Owned Bank Statement(s) Verifying Down Payment/Reserves Minimum 3 Quality Property Photos No tax return options Scope of Work Budget Borrower Resume / Project History
Loan is fixed for 12 to 18-months with interest only amortization. Loan is due at the end of the 12 to 18-month term. No prepayment penalty. Eligible properties include multifamily 5+ units, 1-4 unit residential, and condos. ICS Fix & Flip - Rehab Loans are short-term interim loans designed for properties needing minor to major renovations