Spec-Builder Product Overview

  • Loan Purpose: Purchase, limited cash-out (includes delayed financing), or cash-out
  • Experience Minimum: 2+ investment properties in last 3 years
  • Maximum Loan Amount: $3,000,000
  • Minimum Loan Amount: 1-4 Units: $100,000, Multi-Family: $200,000
  • Eligible Properties: Residential, Non-owner occupied, business purpose only. Single Family Residences (inc. PUD), 2-4 Units, Multi-Family (cash flow requirements apply, see guidelines; 2+ experience required. If 5+ experience, then no unit limit.)
  • Eligible Properties with Special Consideration: Vacation properties (typically located at or near beaches, lakes or mountains) that are not supported by larger cities, economies and other industry besides tourism limited to 10% below the Max LTC. For example: Myrtle Beach SC, Pigeon Forge TN, Florida Keys FL, Martha’s Vineyard MA, etc.)
  • Ineligible Properties: Condos (case by case), Rural, Mixed-Use, Manufactured, Modular, Log Homes, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines
  • Borrower Type: Entity or Individual (see full matrix for details)
  • LTV Maximum ARV: 85% (Multi-Family 70%)
  • Minimum FICO: 660
  • Loan Purpose: Purchase, limited cash-out (includes delayed financing), or cash-out
  • LTC Maximum: 85% (Multi-Family 70%)
  • LTV Maximum ARV: 75% (Multi-Family 70%)

Production-Builder Product Overview

  • Loan Purpose: Purchase, limited cash-out (includes delayed financing), or cash-out
  • Borrower Type: Entity (request additional details)
  • Experience Minimum: 30+ investment properties in last 3 years
  • Maximum Loan Amount: $150,000
  • Minimum Loan Amount: $1,000,000
  • Eligible Properties: Residential, Non-owner occupied, business purpose only. Single Family Residences (inc. PUD), detached condos, and 2-4 Units
  • Ineligible Properties: Condos (case by case), Rural, Mixed-Use, Manufactured, Modular, Log Homes, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines
  • LTV Maximum ARV: 75%
  • Minimum FICO: 660
  • Loan Purpose: Purchase, limited cash-out (includes delayed financing), or cash-out
  • LTC Maximum: 85%