Super Jumbo Second Mortgage Home Renovation Loan Program
Renovations are hard work. Get your financing in line. Feel comfortable and confident your financing needs are locked in. Finding the right financing solution should be simple and quick. In as little as nine days, you can obtain up to $5 million in funding for your investment acquisition.
ARV Home Renovation
The ARV loan program is designed for independent real estate investors who find it tough to qualify. based on the properties as repaired value (ARV). The best short-term interest only solution for acquiring and improving property value for a fix and flip investors.
Program Highlights:
* 720 FICO/Credit Score up to 100% Combined-Loan-to-Value (CLTV)
* 680 FICO Credit Score up to 90% Combined-Loan-to-Value.
* OK to use Cash Out Proceeds to Pay off debt to qualify.
* $175K Line Amount or lower Requires a Drive-by Appraisal Only
* Ok to use Existing Appraisal up to 12 Months old.
* Interest only one year term provides lower monthly payments.
* No Prepayment Penalty
* Allows borrowers to finance improvements.
* Higher LTV than hard money lenders available for investor properties: single family residence (SFR) condominium’s (< 5 floors) and 2-4 units.
Available in the Following States:
Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Mississippi, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.