Property Type: |
Residential - Residential is defined as 1-4 Family Units which includes: Single Family Homes, Townhomes, Condominiums, Duplexes, Triplexes, and Fourplexes.
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Property Use: |
Investment Property Only - Investment is defined as Non-Owner Occupied, typically owned by a company for the sole purpose of investment whereby Owner has no intentions of occupying home today or in the future as a principal residence, second home, or vacation home
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Collateral: | 1st Position Mortgage / Deed of Trust Only |
Borrower: |
Nearly all Individuals and Entities are acceptable. We specialize in non-recourse loans and those clients that require non-recourse financing such as Self-Directed IRA's and Foreign National
Borrowers. Our Credit Qualified programs require a minimum FICO score of 650.
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Loan Terms | ||||||||
---|---|---|---|---|---|---|---|---|
Intended Use | Buy-Fix-Sale | |||||||
Note Term | ||||||||
Term | 12 Months | |||||||
Construction Period | 180 Days | |||||||
Resale Period | 365 Days | |||||||
Loan to Value Ratio, LTV | 70.00% | |||||||
Valuation | Subject-To Appraisal | |||||||
Note Rate & Payments | ||||||||
Interest Rate | 12.00% | |||||||
Rate Type | Fixed | |||||||
Amortization Term | 12 Months | |||||||
Construction Agreement | N/A | |||||||
Resale Interest Rate | 12.00% | |||||||
Construction Interest Rate | N/A | |||||||
Lender Origination Points | ||||||||
Points | 2.75% | |||||||
Minimum | $2,750 | |||||||
Lender Servicing Fees | ||||||||
Underwriting | ||||||||
Credit Underwriting | $0 | |||||||
Asset Underwriting | $0 | |||||||
Construction/Asset | ||||||||
Construction Review | $0 | |||||||
Doc Prep & Processing | $0 | |||||||
Loan Servicing | $0 | |||||||
Loan Terms | ||||||||
---|---|---|---|---|---|---|---|---|
Intended Use | Buy-Fix-Sale (High Value Flips) | |||||||
Note Term | ||||||||
Term | 12 Months | |||||||
Construction Period | 180 Days | |||||||
Resale Period | N/A | |||||||
Loan to Value Ratio, LTV | 70.00% | |||||||
Valuation | Subject-To Appraisal | |||||||
Note Rate & Payments | ||||||||
Interest Rate | 8.25% | |||||||
Rate Type | Fixed | |||||||
Amortization Term | 12 Months | |||||||
Construction Agreement | Yes | |||||||
Resale Interest Rate | N/A | |||||||
Construction Interest Rate | 12.00% | |||||||
Lender Origination Points | ||||||||
Points | 2.50% | |||||||
Minimum | $2,500 | |||||||
Lender Servicing Fees | ||||||||
Underwriting | ||||||||
Credit Underwriting | $0 | |||||||
Asset Underwriting | $0 | |||||||
Construction/Asset | ||||||||
Construction Review | $0 | |||||||
Doc Prep & Processing | $0 | |||||||
Loan Servicing | $0 | |||||||
Loan Terms | ||||||||
---|---|---|---|---|---|---|---|---|
Intended Use | Buy-Fix-Sale w Perm Option | |||||||
Note Term | ||||||||
Term | 30 Years | |||||||
Construction Period | 180 Days | |||||||
Resale Period | 365 Days | |||||||
Loan to Value Ratio, LTV | 70.00% | |||||||
Valuation | Subject-To Appraisal | |||||||
Note Rate & Payments | ||||||||
Interest Rate | 6.75% | |||||||
Rate Type | Adjustable | |||||||
Amortization Term | 30 Years | |||||||
Construction Agreement | N/A | |||||||
Resale Interest Rate | 12.00% | |||||||
Construction Interest Rate | N/A | |||||||
Lender Origination Points | ||||||||
Points | 3.50% | |||||||
Minimum | $2,750 | |||||||
Lender Servicing Fees | ||||||||
Underwriting | ||||||||
Credit Underwriting | $0 | |||||||
Asset Underwriting | $0 | |||||||
Construction/Asset | ||||||||
Construction Review | $0 | |||||||
Doc Prep & Processing | $0 | |||||||
Loan Servicing | $0 | |||||||
Loan Terms | ||||||||
---|---|---|---|---|---|---|---|---|
Intended Use | Buy-Hold | |||||||
Note Term | ||||||||
Term | 30 Years | |||||||
Construction Period | N/A | |||||||
Resale Period | N/A | |||||||
Loan to Value Ratio, LTV | 70.00% | |||||||
Valuation | As-Is Appraisal | |||||||
Note Rate & Payments | ||||||||
Interest Rate | 6.75% | |||||||
Rate Type | Adjustable | |||||||
Amortization Term | 30 Years | |||||||
Construction Agreement | N/A | |||||||
Resale Interest Rate | N/A | |||||||
Construction Interest Rate | N/A | |||||||
Lender Origination Points | ||||||||
Points | 2.75% | |||||||
Minimum | $2,250 | |||||||
Lender Servicing Fees | ||||||||
Underwriting | ||||||||
Credit Underwriting | $100 | |||||||
Asset Underwriting | $300 | |||||||
Construction/Asset | ||||||||
Construction Review | $0 | |||||||
Doc Prep & Processing | $250 | |||||||
Loan Servicing | $150 | |||||||
Loan Terms | ||||||||
---|---|---|---|---|---|---|---|---|
Intended Use | Refinance - Hold | |||||||
Note Term | ||||||||
Term | 30 Years | |||||||
Construction Period | N/A | |||||||
Resale Period | N/A | |||||||
Loan to Value Ratio, LTV | 70.00% | |||||||
Valuation | As-Is Appraisal | |||||||
Note Rate & Payments | ||||||||
Interest Rate | 6.75% | |||||||
Rate Type | Adjustable | |||||||
Amortization Term | 30 Years | |||||||
Construction Agreement | N/A | |||||||
Resale Interest Rate | N/A | |||||||
Construction Interest Rate | N/A | |||||||
Lender Origination Points | ||||||||
Points | 2.75% | |||||||
Minimum | $2,250 | |||||||
Lender Servicing Fees | ||||||||
Underwriting | ||||||||
Credit Underwriting | $100 | |||||||
Asset Underwriting | $300 | |||||||
Construction/Asset | ||||||||
Construction Review | $0 | |||||||
Doc Prep & Processing | $250 | |||||||
Loan Servicing | $150 | |||||||
Loan Terms | ||||||||
---|---|---|---|---|---|---|---|---|
Intended Use | Buy-Fix-Hold | |||||||
Note Term | ||||||||
Term | 30 Years | |||||||
Construction Period | 180 Days | |||||||
Resale Period | N/A | |||||||
Loan to Value Ratio, LTV | 70.00% | |||||||
Valuation | Subject-To Appraisal | |||||||
Note Rate & Payments | ||||||||
Interest Rate | 6.75% | |||||||
Rate Type | Adjustable | |||||||
Amortization Term | 30 Years | |||||||
Construction Agreement | Yes | |||||||
Resale Interest Rate | N/A | |||||||
Construction Interest Rate | 12.00% | |||||||
Lender Origination Points | ||||||||
Points | 3.50% | |||||||
Minimum | $2,750 | |||||||
Lender Servicing Fees | ||||||||
Underwriting | ||||||||
Credit Underwriting | $100 | |||||||
Asset Underwriting | $300 | |||||||
Construction/Asset | ||||||||
Construction Review | $125 | |||||||
Doc Prep & Processing | $250 | |||||||
Loan Servicing | $150 | |||||||
Instructions
Complete and submit this form to receive a Welcome Letter, Loan Program Details, and a Pre-Approval Form. To get Pre-Approved, simply complete the Pre-Approval Form and return to loan@peakassetlending.com.