5% DOWN FOR YOUR RENTALS!
- Term: 20 year amortization. Adjusts every 5 years.
- Lending areas: Dallas, Fort Worth Metro area
- Type of loan: Purchase only, cash-out
- ARV: Max. 70%. YES! Based on ARV, not purchase price!
- Down payment: 5%. We can fund up to 95% of the cost of the property and the repairs
- Points: 4
- Fees: Fees for closing range from $600 to $900.
- Wires: $30
- Draw request and inspections: $125. $150 for FW area.
- Other fees may apply depending on the loan program.
- Interest rate: 9.99%.
- Payment terms: PITI, monthly
- Credit score: Case by case
- Pre-payment penalty: None
- Minimum loan amount: $50,000. Some exceptions.
- Appraisal: Required. Payable in advance.
- Income: Need pay stubs or W-2-s. Need tax returns for self-employed.
- Items needed to apply:
- Most recent W-2s for employed or tax returns for self-employed.
- Last 30 days bank statements
- Contract if applicable
- 1003 credit app., available on request
- Drivers’s license. Soc. Sec. card if available or ITIN
- Credit report, all 3 bureaus with scores.
- Contact info for title company
OTHER ITEMS AND CONDITIONS WILL APPLY. TERMS SUBJECT TO CHANGE
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