Loan Programs

Loan Programs

Type Of Loans

       Hard money Loans
  • Loans to Wholesaler
       Fix & Flip Loans
  • Loans to purchase property with the sole purpose to renovate and sell.
       New Construction Loans
  • Loans for new construction.
      Cashing out equity
  • Loans to cashout equity on your home
       Verification of Deposit
  • Show cash verification of deposit in a bank account in your company or LLC
      Proof of funds
  • Documents showing proof of funds for purchasing real estate
GENERAL LOAN UNDERWRITING CRITERIA

Loan underwriting methods

Asset based loans

  • Max 65% LTV of the property or purchase price which ever is lower.
  • Max 85% of Purchase & Rehab Cost
  • FICO Score Not Required
  • Single family home only

Credit based loans

  • Max 75% LTV of the property or purchase price which ever is lower.
  • Max 100% of Purchase & Rehab Cost
  • Max 80% LTC
  • FICO Score Matrix
  • Single family home or multi family Home upto 6 months
HARD MONEY LOAN UNDERWRITING CRITERIA

Hard Money Loans - Provisions

Asset based loans

  • First mortage lien only
  • Max 65% LTV of the Property or Purchase Price whichever is lower
  • FICO Score Not Required
  • Single family home only
  • Loan amount $25k to $500k
  • MTG Title Policy Required at Closing
  • Rates start at 12% per annum
  • Points charged 3% - 6% of Loan Amt
  • Terms 12 - 16 months

Credit based loans

  • Max 75% LTV of the property or purchase price which ever is lower.
  • Loans amount $25k to $500k
  • FICO Score Matrix Required
  • Single family home or Multifamily home up-to 6 units
  • MTG Title policy required @ Closing
  • Rates start at 10% per annum
  • Points charge 1.5% - 3% f Loan Amt
  • Terms 12 to 24 months
  • Intrest due on the 1st of each month
  • Closing Attorney selected by Solid Property Lender
  • Closing cost paid by borrower
FIX & FLIP LOAN UNDERWRITING CRITERIA

FIX & FLIP LOANS Provisions

Asset based loans

  • First Mortage LIEN only
  • Max 65 % LTV of the property or purchase price whichever is lower
  • FICO Score 600 minimum
  • Single family home only
  • Max 85% of purchase and Rehab Costs
  • No interest charged on unused Rehab funds
  • Loan amount $25k to $500k
  • MTG title policy required at closing
  • rate startes at 12% per annum
  • Points charged 3% - 7% of Loan Amt
  • Terms 12 to 16 months

Credit based loans

  • Max 75% LTV of the property or purchase price which ever is lower.
  • Max 80% LTC
  • Max 100% of Purchase & Rehab Cost
  • FICO Score Matrix required
  • Single family home or multi family Home upto 6 months
  • Loan amount $25k to $550k
  • MTG title policy required at closing
  • Rates start at 10 % per annum
  • Points charged to 2% - 4% of Loan Amt
  • Term 12 to 24 months
  • Intrest due on the 1st of each month
  • Closing Attorney selected by Solid Property Lender
  • Closing cost paid by borrower