Investors Line Of Credit
This Program is a line of credit investors can use to
buy and rehabilitate investment property. The loan
amount is based on;
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* 5 Times your liquid assets
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* Minimum liquid assets is $50,000.00
Investors Renovation Mortgage
The Loan Program lends money to investors to buy and
rehabilitate investment property with one loan closing.
.
The loan amount is based on;
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* 90% LTV of the purchase price. (10% Down)
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* 95% LTV of the repair cost. (5% Down)
FNMA HomeStyle Renovation Mortgage
Loan Purpose: Purchase or limited cash-out refinance.
The HomeStyle Renovation (HSR) mortgage provides a convenient
and economical way for borrowers considering moderate home
improvements to make repairs and renovations with a single-close
first mortgage, rather than a second mortgage, home equity line of
credit, or other, more costly methods of financing. The loan amount
is based on the “as-completed” value of the home rather than the
present value.
Work Sheet
FHA 203k Renovation Mortgage
The FHA 203(k) loan lets you purchase or refinance and rehabilitate
a property with one loan closing. The projected rehabilitation costs
are held in an escrow account and disbursed as work is completed
and inspected. The loan amount is based on the lower of the projected
market value following repairs or purchase price plus renovation costs.
