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 | Madison, Wisconsin |
Population | 259,680 |
Map Coordinates | 43.08°N 89.42°W |
Median Home Price | $275,900 |
Housing Units Owner Occupied | 52,400 |
Housing Units Renter Occupied | 61,696 |
Hard Money Loan Volume | $179,023,392.00 |
Rental Property Loan Volume | $220,198,772.16 |
Bridge Loan Volume | $62,658,187.20 |
Fix & Flip Loan Volume | $136,057,777.92 |