Loan Programs

Texas Rehab Loans Program

New investor program for customers that feature 600 FICO minimum and no prepayment penalties. It offers longer terms with a 5 year balloon on all loans!

Lending area: Nationwide.  We can close in as little as 10 days
(14-21 days on average)

    • No Survey Required
    • All types of residential real estate
    • Loan amounts between $40,000 and $1,000,000
    • Stated income and stated asset programs. No income verification.
    • 600 FICO Minimum
    • Purchases only
    • We will lend 70% to 80% of purchase price with a max 65% after-repaired value on purchases (based on real estate broker opinion of value)
    • 12 - 18 month Interest Only Balloons available starting at 13% with 3 to 5 points.
    • NO prepayment penalty
    • Can be modified to long term (as long as 20 year term with 5 year balloon) loan after rehab is completed.
Complete the following Online Submission Form to begin the process:    


RATES:

Term:

Payment based on:

Rate:

Total Points:

Prepay Penalty:

12 Month Balloon

Interest Only

13.00%

3.00 to 5.00

No

18 Month Balloon

Interest Only

13.50%

3.00 to 5.00

No

60 Month Balloon

10 Year Fixed P&I

11.50%

3.00 to 5.00

No

60 Month Balloon

15 Year Fixed P&I

12.00%

3.00 to 5.00

No

60 Month Balloon

20 Year Fixed P&I

12.50%

3.00 to 5.00

No


















*All loans require full escrows and personal guarantees by borrower(s).
*Rate subject to change without notice.

Other Fees:

  • $350-$750 BPO Fee (Broker's Price Opinion per tract)
  • If appraisal is required ($1,00 to $3,500)
  • $300-$400 (actual) Attorney Fee to draw lender docs
  • $1,000-$1,500 Lender fee for processing, underwriting and inspection
  • Actual Prepaid interest, escrows (taxes and insurance), etc
  • Plus all other 3rd Party fees (Title policy, recording, survey...etc)

**Lower points structure available with 36 month prepayment penalty
**All loans require full escrow and personal guarantee by borrower(s)
**All rates, points and fees subject to change without notice


call us at (214)-310-4117 or email us at myscenario@sncfunding.com


   
Website Builder