Our FHA Product enables - placeholder text - investors to purchase their first property or add a new property to their portfolio. Investors use this loan to refinance a property for a better rate, or use equity to take cash out.*
Interest Rate |
PLACEHOLDER INFO BELOW |
Finance of America Commercial Origination Fee** |
> of $1499 or 1.00% of loan amount |
Minimum Property Value |
$100,000 |
Borrower Type |
LLC or individual |
Maximum Loan-to-Value (LTV) |
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Maximum Loan-to-Cost (LTC) Cost is purchase price amount. |
Time Owned : Constraint
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When do we use LTV vs LTC? |
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Cash Flow Requirement |
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DISCLOSURES ON PRODUCTS INFORMATION ABOVE
*Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates may vary depending upon loan type, LTV, verification of application information and other risk based factors. Application fees, closing costs and other fees may apply.
**Borrowers working with a mortgage broker may incur broker Origination Fees, broker Advance Fees, and/or broker Rehab Draw Fees; these fees vary by transaction.
***Our Quote Tool assumes the greatest allowable loan-to-value (LTV) or loan-to-cost (LTC) for your estimated credit score. See our Product Matrix for details on LTV and LTC constraints. Quotes generated in our online Quote Tool are estimates only. This is not a commitment to lend. Final lending decisions are based on formal review of the financed property, the borrower(s) and other lending criteria. Loan amount, rates and terms cannot be determined until you fully complete a loan application and undergo the required reviews. Finance of America Commercial loans for our Single Loan Product are rental property loans from $75,000 (minimum) to $750,000 (maximum) at a 30 year fixed rate. Once you complete a full loan application, your personal information, including background check, credit check and FICO score, will be verified.
****This does not include borrower incurred expenses including: Vacancy Loss, Property Management Fee, Repairs and Maintenance, Turnover Costs, Leasing & Marketing, Capital Expenditures, Taxes, Utilities, Other miscellaneous expenses