12/24 Months Bank Statements

Loan Program

12/24 Months Bank Statements

We understand that borrowers should not be denied the opportunity of homeownership because they don’t meet the stringent requirements of traditional lenders. This is where our 12/24 Month Bank Statement loan program becomes a solution.
Fundrock Capital 12/24 Month Bank Statement program loans are perfect Non-QM options for self-employed and high net worth individuals who are unable to document their income with tax returns. To qualify for this loan, we allow the use of 12 and 24 months of Business and Personal bank statements.

LOAN CRITERIA

Collateral

Non-Owner Occupied Single-Family Properties; Condos; Townhomes

Term:

12 – 24 Months

Loan Amount:

$100k* – $2M *Based on Max Loan Amount

Minimum Property Value:

$150k** **As-Completed Value

Rates:

Starting at 10.99%

Minimum FICO:

650

New Construction
Loan Program Typical Leverages

ASSUMING ENTITLEMENTS, PERMITS & APPROVED PLANS

TIER 1

Completed 10 or More Ground Up Construction Projects

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 75% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 80% of the As-Is Value

Up to 75% of the As-Is Value

Up to 80% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 75% ARV

TOTAL LOAN-TO-COST

Up to 75% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 72.5% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 72.5% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 75% ARV

TOTAL LOAN-TO-COST

Up to 75% ARV

TIER 2

Completed 3+ Investment Real Estate Transactions, At Least One Must Be Heavy Rehab

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 75% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 75% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 70% ARV

TOTAL LOAN-TO-COST

Up to 70% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 72.5% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 72.5% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 70% ARV

TOTAL LOAN-TO-COST

Up to 70% ARV

TIER 3

Completed 3+ Investment Real Estate Transactions, At Least One Must Be Heavy Rehab

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 70% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 72.5% of the As-Is Value

Up to 70% of the As-Is Value

Up to 72.5% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 67.5% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 67.5% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

TIER 4

New Customer

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 70% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 70% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 65% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 65% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

At least one borrower or guarantor must have the number of qualifying pieces of experience as dictated above or equivalent experience in the past three (3) years and at least one (1) year in the business of acquiring real estate for investment purposes or renovating real estate.

12/24 Months Bank Statements