PROGRAM HIGHLIGHTS:
- Loan Size $500K-$100M
- Sponsor Experience established SREO consisting of cash flowing rentals,fix/flips, or both
- Min FICO 660 w/o bks, foreclosures, etc. in last 3 years
- Min Net Worth/Liquidity 25% of loan amount and 5% of loan amount, respectively
- Min Unit Count 5 (ex: 1 duplex & 1 triplex OR 5 SFRs)
- Min Values $45K = Single family dwelling | 45K/door = Multi-family dwelling(2+ units)
- Asset Types SFR, condo, townhome, 2-4 Unit, and 5-20 unit apartments (larger apartments on exception basis). Note: Will not finance mobile/manufactured homes
- Max LTV Up to 75% (up to 65% for foreign nationals, min loan amount $1m)
- Min DSCR 1.20x
- Term Options 3-year, 5-year, 7-year, 10-year balloon
PROGRAM HIGHLIGHTS:
• Investment Properties
• Max CLTV 70%
• Minimum loan amount $500,000
• Maximum loan amount $100,000,000
• 30-year fixed terms available
• DSCR >1 allowed
• Foreign National allowed
PROGRAM HIGHLIGHTS:
Transaction: Rehab/Value Add Projects only
Loan Amounts: $150,000 to $2,000,000
Property Types: Single-Family Residences, 1-4 Units
Lending Areas: AL, CO, CT, DE, FL, GA, IL, IN, KS, KY, LA, ME,MD, MA, MO, NH, NJ, NY, NC, PA, RI, SC, TN, TX, VA, WV, WI
Rates: 9.99%-12.25%, Interest Only
Term: 4 to 12 Month Bridge Loan
• If the property is located in a major metro in Texas, no appraisals are needed
• For most states, experience is not required.
A flexible and speedy solution to bridge the gap between the sale of the borrower’s current home and the purchase of a new one.
Features
• Loan amounts up to $5 million
• 5-years interest only
• Can close in an LLC
• Investment Property, residential vacant or tenant-occupied
Commercial Loans
Arizona CMB License:
California CMB License:
Residential Loans
First Millennium Holdings
NMLS ID: