LOAN PURPOSE | Options include: purchase, limited cash-out, or complete cash-out[3] |
BORROWER | Individual or group |
ACQUISITION MINIMUM | 1 rental property per loan |
INTEREST RATE[1] | Rates as low as 7% |
TERM | 30-year fixed |
EXPERIENCE | No first-time homebuyers |
MINIMUM CREDIT SCORE | 640 |
MAXIMUM LOAN-TO-VALUE (LTV)[4] | 80% on purchase, 75% on cash-out[3] |
MINIMUM LOAN AMOUNT | $300K-$10MM[13] |
VACANCY MAXIMUM | Vacancy requires a max LTV of 60% |
SEASONING REQUIREMENT | 180 days |
RURAL PROPERTIES | Unqualified |
FOREIGN NATIONALS |
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PROPERTY TYPES |
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City, State | Reno, Nevada |
Population | 255,601 |
Map Coordinates | 39.54°N 119.84°W |
Median Home Price | $378,600 |
Housing Units Owner Occupied | 52,613 |
Housing Units Renter Occupied | 57,505 |
Hard Money Loan Volume | $176,211,329.40 |
Rental Property Loan Volume | $216,739,935.16 |
Bridge Loan Volume | $61,673,965.29 |
Fix & Flip Loan Volume | $133,920,610.34 |