BENEFITS
Fund 85% of purchase price
Fund 100% of improvements or repairs
Fund closing costs, fees and insurance
Investors are welcome
Stated income is acceptable

RATE & TERMS
Loan term                12 months
L.T.V.                     60% (after repair value)
Min. credit score       640
Interest rate            14% (interest only, paid monthly
Debt ratio:               45% (maximum)

Fees
Origination fee: 5 points (maximum)
Lender discount: 5 points or $1,000 minimum
Processing and title(s) transfer: $450
Draw inspection of work performed  ($125 ea.)
Appraisal (borrower funded)


Required Documentation From Originator
Executed application
Verification of income and assets
Last two tax return filings
Credit report
Copy of title(s)
Approved appraisal
Purchase contract
Community approval and lease agreement
Declaration of course of construction insurance
Bids from contractors

( rates & terms are subject to change)