Our no money down on the purchase and renovation is our number 1 loan product and for good reason- clients want more leverage.
The client went to the closing table for a $285,000 loan with only $15,000 and that even included the attorney fee. This type of loan with most lenders would require 10 percent down on the purchase- which would make it 35,000 at the closing table.
This loan as with all lenders is based off of 70 to 75% ARV.
75%-80% LTV for refinances and cash out refinances
85% LTV for Purchase/Rental Loan
Farley Youman is a former licensed mortgage officer for two years; Top Option Capital can refer you to the best mortgage company.
Top Option Capital, LLC (“Lender”) and its affiliates (collectively, “Top Option Capital”) originate business purpose loans. Loans are intended strictly for business purposes and are not to be used for personal, family, or household purposes. This communication does not constitute a commitment to lend. All loan applications are subject to Lender’s underwriting requirements and satisfactory completion of due diligence. Loan terms, including amounts, interest rates, and fees, are provided for informational purposes only and are subject to change without notice at the sole discretion of Lender until a definitive agreement is fully executed by Lender and Borrower (and any other required parties). Additional conditions may apply.
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