- Loan Term:
- 12 months standard
- 18-month term available on a case-by-case basis
- Rehab / Construction Financing:
- Up to 100% of the rehabilitation budget
- Maximum Loan-to-Cost (LTC):
- Up to 90% of the purchase price
- Maximum Loan-to-Value (ARLTV):
- Up to 75% after-repair loan-to-value
- LTC vs. LTV Usage:
- LTC is typically applied on lopsided projects where the rehab budget exceeds the purchase price
- Recourse:
- Loan Amounts:
- Loan Purpose:
- Rehab financing for non-owner-occupied residential investment properties
- Borrower Type:
- Entity (LLC or corporation) required
- Eligible Property Types (Non-Owner Occupied):
- Attached or detached single-family residences
- 2–4 unit properties
- Townhomes
- Warrantable condominiums
- Foreign National Borrowers:
- Allowed, excluding borrowers from ineligible country list
- Minimum Experience:
- No prior experience required
