Archive for the ‘California ARV Purchase/Rehab’ Category

100% Financing Purchase/Rehab, Private Lender – Southern CA

September 17, 2013

Loan Terms:

TRTY Southern CA
AMNT $50k – $500k
LTV 100% LTC of 65% ARV
INT 12 – 15%
PTS 4 – 6
TRM 6 months
PPP No pre payment penalty

SFR Investment Properties Only
Fix & Flip Only
Will roll in closing costs and points
First draw paid by Borrower
Appraisal required, paid by Borrower

California 100% Purchase-Rehab 1 – 4 Unit Loan Program

July 18, 2012

Loan Program # 1

 Territory AK, CA, CO, FL, GA, ID, MT, NV, NY, OK, OR, TX, WA, WV

Amount   $10k – $9M  
LTV         65 – 70%      (65% ARV of 100% LTC, Purchase/Rehab)
                  70%              Purchases
INT          10 – 15%
PTS         5
Term       12 – 60 months
PPP         3 month interest guarantee

Wants Summary Sent First
$500 processing fee after approval
Will Do Construction
All costs can be rolled into loan

Loan Program # 2

TRTY     North California Only
AMNT     $75k – $2.5M
LTV         100% LTC of 65% ARV
INT          12 – 14%
PTS         4 – 6
TRM        3 – 9 months
PPP         None
PRFT      50 / 50 Split

 Lender will roll in all points and costs
1 – 4 Unit, Apartments, Retail, Rehab
Construction Completion
Loan Program # 3

TRTY     S CA Only                                                  
AMNT     $50k -$1.5M
LTV         100% LTC of 65% ARV
INT          10 – 12%
PTS         3 – 5
TRM        12 months
PPP         3 month guarantee

DOCS     Bank Statements or Stated
RSVS     50% of Rehab Costs and
6 months Mtg Payments
Loan Program # 4

We can do 100% Loan To Purchase on distressed properties in CA.  If the true
LTV in no more that 60%.  Say you bought a $500k property for $300k.  We would
finance the $300k

TRTY     CA Only
AMNT
LTV         100% LTV of 60% FMV
INT          8 – 10%
PTS
TRM
PPP
Loan Program # 5

TRTY     CA Only
AMNT     $400k – $5M
LTV         100% LTC of 70% ARV
INT          12 – 15%
PTS         4
TRM        12 months
PPP         None

No Credit Reports or Verification of Income
Points & Closing Costs Can Be Rolled Into Loan
Experienced Investors Only
Need Appraisal
Loan Program # 6

TRTY     Nationwide
AMNT     $25k – $100k
LTV         65% ARV
INT          15%
PTS         5 
TRM        12 months
PPP         No

Initially wants borrower to have 10% of transaction amount into project
Loan Program # 7

Territory AK, CA, CO, HI, ID, NV, OR, TX, UT, WA
Amount   $100 – $3M
LTV         65% LTC to max 55% ARV
INT          10 – 12%
PTS         3 – 4
Term       12 – 60 months
PPP         No
Credit      600

Roll in Lender Points
Roll in 4 – 6 months reserve
Subtract these from total of 55% ARV

 

California: 100% Purchase/Rehab Loan Program & Refinance 1 Day After Rehab Complete

June 24, 2012

Loan Programs:       Purchase/Rehab and Refinance Loan Programs.

 

                                        These loan programs dovetail for investors who want to purchase/rehab and then hold one – four unit, residential     investment properties.

Refinance Loan Program:

 

TRTY                CA & CO Only

AMNT               $417,000 and up by County    (SFR)

$533,800 and up by County    (2 Unit)

$645,300 and up by County    (3 Unit)

$801,950 and up by County    (4 Unit)

LTV                   75% of new appraisal

INT                    Conventional, conforming bank rates

PTS                   1 – 2

TRM                  15 / 15 or 30 / 30

PPP                  None

 

 

No Ownership Seasoning to Refinance (one day after rehab is complete)

Allow up to 10 properties owned

Portfolio Lender, Services Own Loans

 

 

Purchase/Rehab Loan Program:

 

TRTY      CA Only

AMNT     Up to $600k  (SFR)

                Up to $725k  (2 – 4 Units)

LTV         100% LTC of 60 – 65% ARV

INT          12%

PTS        5

TRM        9 months

PPP        None

 

1.          Will advance draws to Borrower

2.          Borrower to pay closing costs and points

3.          Borrower needs six (6) months reserves

 

CA & FL Purchase/Rehab Lending – 100% of Purchase & Rehab

October 19, 2011

TRTY CA, FL Only
AMNT $50k – $5M
LTV 100% LTC of 70% ARV
INT 14%
PTS 4 – 5
TRM 12 months
PPP None

No Credit Reports or Verification of Income
Points & Closing Costs Can Be Rolled Into Loan
Experienced Investors Only
Need Appraisal

This product currently allows up to 100% of the acquisition & rehab costs to be included in the loan as long as the total LTV is less than 70% of the completed projects value!

Quick closing! (15-20 business days from complete submission)
100% of costs rolled into the loan!
Fee’s rolled into the loan!
Closing costs and points paid at time of closing

Increase your liquidity by leveraging your experience to borrow the capital!
No Credit Check or Income Verification!

SUBMISSION REQUIREMENTS:

Completed Application
Signed borrower’s authorization
Executive Summary (include written exit strategy)
Proof of History of Flipping or Investing
Schedule of Real Estate Owned
Signed Purchase Agreement
Estimate/Repair Bid
Preliminary Title Report
3 months current bank statements
Copy of state issue ID/Passport
Appraisal of subject property (to be ordered by Lender)
* If closing in a LLC, Corporation, or other entity please provide the following:

Articles of Incorporation/Formation
Operating Agreement
Corporate Bylaws (if applicable)
Certificate of Good Standing (must be less than 60 days old)
Corporate Resolution naming signers
Copy of sate issue ID/Passport of all principals with 25% > ownership

California ARV Purchase and Rehab Lending

November 9, 2010

Loan Program # 1

Territory CA (Commercial Nationwide)
Amount $100k – $100M
LTV 100% LTC of 65% ARV
INT 12 – 14%
PTS 3 – 5
Term 12 months
PPP None

Need: 1003, Credit, Appraisal, Authorization, E of Repair, etc

Loan Program # 2

Territory LA to San Diego
Amount $25k – $20M
LTV 100% LTC of 60% ARV
INT 11.5 – 13.5%
PTS 4 + $1500 (+ 1 if ground up construction) Min $5,000
Term 12 months
PPP No
Reserve 6 months – Rehab / 12 months – Construction

Wants 15 – 25% cash into the deal

Uses Income Approach for FMV for a SFR

Loan Program # 3

Territory CA & NY only
Amount $50k – $10M
LTV 100% LTC of 75% ARV (Need 10% of Purchase Price for DP)
INT 15%
PTS 6
TRM 12 – 24 months
PPP No
CRDT Good Credit

Docs Needed : 1003 P & S Agreement
2 years tax returns Listing
Credit Report Comps
3 months bank stmnts Photo
Tax ID (if legal entity) Estimate of Repair
GC info

Loan Program # 4

TRTY AZ, CA, HI, NV
AMNT $50k and up
LTV 100% LTC of 65% ARV
INT 12 – 14%
PTS 7
TRM 12 months
PPP None

Refinance/Purchase
LTV 55 – 60
INT 9 – 10
PTS 3
TRM 12 – 18 months

Loan Program # 5

TRTY CA Only (South)
AMNT $30k – $3M
LTV 100% LTC of 65% ARV
50% LTV Land Entitled
25% LTV Raw Land
INT 11 – 13%
PTS 3 – 5
TRM 12 – 24 months
PPP None

Loan Program # 6

Territory AZ, CA, NV
AMNT $25k – $400k
LTV 100% LTC of 65% ARV
INT 12.5% – 15%
PTS 4 – 5
TRM 6 months (2 ext, 90 days each)
PPP No
FICO 625

Borrower Down Payment 10-20% of purchase price
Reserves 50% of Rehab Cost & 6 months payments
Rehab Budget 80% of rehab budget


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