| Features: |
| · |
Loan amounts up to $1,000,0001 |
| · |
Full and Stated Income Document Types2,3 |
| · Decision credit scores as low as 680 |
| · For future construction of Primary residence or Second homes |
| · DTI ratio up to 45% |
| · Up to 50 acres |
· Investment use is prohibited
|
| Lot Loan Rate & Term Refinance - Additional Guidelines |
| · Prepayment penalties can be rolled into the loan amount |
| · Loans with any delinquency in the last 12 months do not qualify |
| · A new appraisal for the subject property is required |
· The maximum new loan amount is determined by the new appraised
value |
· Property must not have been listed for sale by the borrower in the last
12 months (verified by appraiser) |
| · |
If the new appraisal is lower than the amount due to payoff the loan, the borrower must contribute enough equity at closing to meet the standard guidelines
|
| Additionally we offer: |
| · Construction-To-Permanent (CTP) |
| · Bridge |
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