Financing of newly constructed or renovated properties that are currently vacant and stabilized and are ineligible for permanent financing.
Property
- Single-family, townhomes, warrantable condos, 2-4 unit, and 5-10 unit
- Loans restricted to investment properties; cannot be owner-occupied
- Rural properties not allowed
Loan Features*
- 12, 18 or 24-month term
- $150,000 to $1.5 million loan amount
- Up to 75% loan to value
Borrower
- 680 minimum FICO; no recent foreclosures or bankruptcies
- Entities only; a personal guarantee is usually required
- Foreign nationals allowed at reduced LTV
- Pricing based on borrower experience
- No employment or income verification
Other Details
- Close in as little as 5 days
- Average or better property condition (C1-C4 condition)
*This is not an offer to extend credit. Loan terms, interest rate, origination points, and fees are based on loan to value, rental cash flow, credit history, and other factors. Additional criteria may apply, and all details are subject to change without notice.