A C5 rating for property condition usually disqualifies a property for financing from most lenders. Call Finance Factors to salvage your loan and keep your buyers and Realtors happy.
We have different ways to finance a C5 property, and will work with you to structure the solution that best fits your client.
- Standard Portfolio ARM
- Up to 80% LTV with strong borrowers
- Borrowers must show sufficient reserves to complete repairs
- Professional estimate and itemization of repairs required
- Cross-collateral option available to minimize down payment and preserve funds to complete repairs
- No minimum FICO score. Lower FICO will usually result in lower LTV.
- Investor or owner-occupant loans
- Jumbo loans considered up to $2.5 million at lower LTVs or with additional collateral
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ALT-Rehab Loan Program
- Up to 89.9% LTV
- 740 minimum FICO score for 89.9% LTV. Up to 85% LTV with 720 FICO
- Maximum loan up to $625,500
- Borrowers must show sufficient reserves to complete repairs
- Estimate and itemization of repairs required
- Repairs cannot exceed $65,000 or 15% of purchase price
- Cross-collateral option available to minimize down payment and preserve funds to complete repairs
We are also available to preview properties and assist with up front prequalification if you have a borrower targeting foreclosures and properties needing repairs.
