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 | Corpus Christi, Texas |
Population | 326,586 |
Map Coordinates | 27.75°N 97.17°W |
Median Home Price | $157,100 |
Housing Units Owner Occupied | 69,216 |
Housing Units Renter Occupied | 49,968 |
Hard Money Loan Volume | $225,148,388.40 |
Rental Property Loan Volume | $276,932,517.73 |
Bridge Loan Volume | $78,801,935.94 |
Fix & Flip Loan Volume | $171,112,775.18 |