After Repair Value Loan Criteria

- Collateral: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes: 5+ Unit Apartments; Mixed-Use Properties

- Loan Amount:

   o $50k – $2M (above $3M check with RCN) for 1-4 Family, Condos, & Townhomes

   o $250k – $3M for Multi-Family (5+)/Mixed-Use

- Term: 12 months (6-Month Extension Available)

- LTV:

   o Purchase (assumes experienced, but first timers welcome):

• Light Rehab: Up to 85% of Purchase Price + 100% of Renovation Costs; Not to Exceed 70% of the ARV, loan capped at 90% total loan to cost (purchase + rehab)
• Moderate Rehab: Up to 85% of Purchase Price + 100% of Renovation Costs; Not to Exceed 70% of the ARV, loan capped at 90% total loan to cost (purchase + rehab)
• Heavy Rehab: Up to 75% of Purchase Price + 100% of Renovation Costs; Not to Exceed 60% of the ARV

   o Refinance: Up to 75% As-Is + 100% of Renovation Costs; Not to Exceed 60% of the ARV

   o Cash-Out: Up to 70% As-Is + 100% of Renovation Costs; Not to Exceed 55% of the ARV

- Rates: Starting at 10.24%

- Credit Score: 620 minimum, Scores below 660 will require 6 months reserves

Long-Term Rental Loan Criteria

- Collateral: Non-owner Occupied 1-4 Family Residential Properties; Condos; Townhomes; Portfolios, and short term rentals

- Term: 30 Years

- Amortization Options: 30-Year Fixed; Interest only, and ARMs

- Loan Amount: $65K-$1.5M

- LTV for 1-4 unit properties:

   o Purchase: Up to 75% of purchase price (720+ score)

   o Refinance: Up to 75% of the As Is Value (720+ score)

   o Cash-Out: Up to 70% of the As Is Value (720+ score)

   o Purchase: Up to 80% of purchase price (740+ score)

   o Refinance: Up to 80% of the As Is Value (740+ score)

   o Cash-Out: Up to 75% of the As Is Value (740+ score)

- Rate: Starting at 6.49% for 1-4 family properties

- Credit Score: 680 minimum

- Prepayment Penalty: 0-5 years, shorter prepay periods will have higher rates

- Minimum DSCR of 1.10, if credit less than 720, minimum DSCR of 1.20

Long term Rental for Multi-family properties

- Collateral: 5-9 unit buildings

- Term: 30 years

- Amortization Options: Hybrid ARM 5/1, 7/1, or 10/1; 30-Year Fixed; 5, 7, or 10 year Interest-Only

- Loan Amount: $250,000-$2M

- LTV:

   o Purchase: Up to 67.5% of purchase price (720+ score with experience)

   o Refinance: Up to 67.5% of the As Is Value (720+ score with experience)

   o Cash-Out: Up to 65% of the As Is Value (720+ score with experience)

- Rate: As low as 7.25 %

- Credit score: 680 Minimum

- Prepayment Penalty: 3-5 years, shorter prepay periods will have higher rates

- Minimum DSCR: 1.20

Ground Up Construction

- Collateral: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Apartment buildings.

- $100K-$2M loan sizes

- Term – 12, 18, or 24 months

- Initial advance up to 75% of as is value

- Max loan amount up to 75% of the ARV or 90% LTC

- Minimum property value $150K (based on ARV)

- Minimum Credit score 650, US Citizens only

- Rates as low as 10.99%