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 |
|
PROPERTY TYPES |
|
City, State | Toledo, Ohio |
Population | 272,779 |
Map Coordinates | 41.66°N 83.58°W |
Median Home Price | $84,600 |
Housing Units Owner Occupied | 61,134 |
Housing Units Renter Occupied | 59,888 |
Hard Money Loan Volume | $188,053,842.60 |
Rental Property Loan Volume | $231,306,226.40 |
Bridge Loan Volume | $65,818,844.91 |
Fix & Flip Loan Volume | $142,920,920.38 |