DSCR loans (Business Purpose Loans)
- Property eligibiliey - 2-8 unit mixed use of residential and commercial dwellings, commercial units sq footage <=49% of the total sq footage.
- Qualifying income - program utilizes rental income from all the units.
- Credit score => 680 or 1-4 units residential, =>720 for mixed use properties.
- Down Payment - can be a gift from family members (permitted for 1-4 unit residential dwellings)
Short Term Lending (BPL)
- Property eligibility - 1-4 and 5-20 unit residential dwellings. All transactions must be business purposed.
- Credit score - =>680.
- Terms- 12, 18 to 24 months. Max loan amount to 2 millions.
- Loan Types - Bridge loans, Rehab loans, ground-up construction (1-2 units not permitted).
- Qualifying - must have 3 year of fix and flip experience, personal guarantee is required.
Above loan description highlights of each loan program. Full loan program guidelines are available upon request. All loans are subject to full underwriting approvals.
All information contained herein is for informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.” Licensed by the Dept. of Business Oversight under the CRMLA; DRE 1807746