Home Renovation Mortgages

Up to 65% of the After Repaired Value

Down Payment: 10-20% of the Purchase Price Plus the Repairs
Rate: 8% - 15%
Credit Score: Minimum 620 Middle Score
Fees Vary - Usually 3 - 8 Points
Minimum Funds for Repairs $10,000.
Minimum End Loan $50,000.
Term 6-12 Months / Possibly Interest Only
Reserves 2-6 Months
Pre-Payment Penalty: 0% - 2%
Income Documentation: 2 Years Signed Tax returns (All Schedules) and YTD
Asset Documentation: 2 months of All Asset Statements

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Subject to Automated Underwriting and Other Conditions.
All Programs subject to change and/or termination without notice.