Wholesale & Correspondent · NMLS #344236
AE Desk: (800) 830-5626
Purchase + rehab in one loan.
Two tracks, priced right.
Standard for cosmetic-to-moderate scopes, Extensive for structural and gut rehabs — with interest on drawn balance only and a draw process that keeps your client’s project moving.
Up to 90%
Loan-to-Cost
Up to 75%
Loan-to-ARV
$100K–$3M
Loan Amounts
12–18 Mo
+ Extensions to 27 Mo
Fix & Flip / Renovation
Scope determines the track
The scope of work classifies the project at intake. Kitchens, baths, roof, flooring, in-place systems swaps — that’s Standard. Structural work, full gut, footprint expansion up to 20%, major systems, or an ADU — that’s Extensive, with deeper requirements and its own leverage grid. Beyond 20% expansion or a full teardown routes to Ground-Up Construction.
Program Highlights
Acquisition (or refi) plus rehab holdback in a single close
Non-Dutch accrual — interest on drawn balance only
Borrower elects the base term (12–18 mo); extensions to 27 mo
Reimbursement draws with third-party inspection; $10K minimum draw
10% contingency mandatory on every budget
Rehab budgets to 150% of as-is value (Extensive T1)
Leverage Matrix
Standard Renovation
Parameter | Tier 1 (5+) | Tier 2 (3–4) | Tier 3 (1–2) | Tier 4 (0) |
|---|---|---|---|---|
Max LTV / LTC — purchase | 90% | 85% | 80% | 75% |
Max LTV — rate & term | 80% | 72.5% | 70% | 60% |
Max LTV — cash-out | 70% | 67.5% | 65% | Ineligible |
Max LTARV — purchase | 75% | 70% | 65% | 60% |
Max LTARV — rate & term | 70% | 65% | 60% | 55% |
Max rehab ratio (of as-is) | 75% | 60% | 50% | 30% |
Loan size | $100K–$3M | $100K–$3M | $100K–$1.5M | $100K–$1.5M |
Extensive Renovation
Parameter | Tier 1 (5+) | Tier 2 (3–4) | Tier 3 (1–2) | Tier 4 (0) |
|---|---|---|---|---|
Loan size | $250K–$3M | $250K–$3M | $250K–$1.5M | Ineligible |
Max rehab ratio (of as-is) | 150% | 125% | 100% | Ineligible |
Max LTARV — purchase | 70% | 65% | 60% | Ineligible |
Max LTV / LTC — rate & term | 70% | 67.5% | 65% | Ineligible |
Max LTV / LTC — purchase | 85% | 80% | 77.5% | Ineligible |
Full purpose-by-purpose grids (including cash-out) on the Product Matrix. Renovation cash-out requires 365-day ownership. 5–9 unit Renovation: T1/T2 only, $500K–$3M, commercial-grade appraisal, debt-yield floors, mandatory feasibility report.
Requirements
What Extensive adds
General contractor
Mandatory (any budget)
Builder’s Risk
Mandatory, 12-mo fully earned
3rd-party feasibility report
Required
Completion Guaranty
All guarantors
Borrower cash equity
10% of project cost
Plans & certified approvals
At intake
T1 / T2
Mid-construction takeover
Track
Extensive only
Project stage
Weathertight or beyond
Commencement window
≤ 12 months
Structure
Refinance only, no cash-out
Remaining cost equity
≥ 10%
Adjustment
-5 LTC · +50 bps
Draws
A draw process you can sell
01
Budget locked
Scope of work and itemized budget reviewed by Construction Management; schedule designed per deal.
02
Work completes
Client builds; permits verified at the applicable draw. No-work periods over 90 days need a waiver.
03
Inspection
Third-party inspection with photos confirms completion; lien waivers collected per draw.
04
Reimbursed
Funds wire on verified work. Interest accrues only on the drawn balance — never the holdback.
FAQ
Broker questions, answered
Price a flip for your client
Scope, budget, ARV — send it and get the structure back before you quote.