|Property Type:||Residential - Residential is defined as 1-4 Family Units which includes: Single Family Homes, Townhomes, Condominiums, Duplexes, Triplexes, and Fourplexes.|
|Property Use:||Investment Property Only - Investment is defined as Non-Owner Occupied, typically owned by a company for the sole purpose of investment whereby Owner has no intentions of occupying home today or in the future as a principal residence, second home, or vacation home|
|Collateral:||1st Position Mortgage / Deed of Trust Only|
|Borrower:||Nearly all Individuals and Entities are acceptable. We specialize in non-recourse applications such as Self-Directed IRA's and Foreign National Borrowers.|
PurchaseUse this program to purchase 'Rent Ready' investment property.
RefinanceUse this program to refinance an existing property. Refinance can payoff existing liens or used for 'Cash Out'.
RehabUse this program to purchase, renovate, and hold an investment property long term.
ResaleUse this program to purchase, renovate, and resale. Special Programs available for resales using a Peak loan.
|Intended Use||Buy-Hold||Cash Out-Hold||Buy-Fix-Hold||Buy-Fix-Sale|
|Term||30 Years||30 Years||30 Years||30 Years|
|Construction Period||N/A||N/A||60 Days||60 Days|
|Loan to Value Ratio, LTV||65.00%||65.00%||65.00%||60.00%|
|Valuation||Appraisal or Purchase Price whichever is less||Appraisal||Subject-To Appraisal||Subject-To Appraisal or 65% of Investment Basis whichever is less|
|Note Rate & Payments|
|Rate Type||Adjustable||Adjustable||3/1 ARM||Adjustable|
|Amortization Term||30 Years||30 Years||30 Years||30 Years|
|Construction Per Diem||N/A||N/A||Yes||Yes|
|Lender Origination Points|
|Lender Servicing Fees|
|Doc Prep & Processing||$250||$250||$250||$250|