WVOE

Loan Program

WVOE

WVOE loan represents a unique category of mortgage solutions, distinct from conventional or government-backed financing options. A Written Verification of Employment (WVOE) is a form that a borrower’s current employer completes. It helps to verify specific details about their employment: dates of hire, compensation structure (salary, bonus, commissions), and year to date earnings. At Fundrock Capital, WVOE form can be used to confirm a borrower’s income. The same is true for our 1099 Income Program. Instead of tax returns, A&D, your trusted mortgage lender, uses the actual wages from your 1099 form as qualifying income for your new home loan. Both the 1099 and WVOE loan is a way to qualify for a Non-QM mortgage.

LOAN CRITERIA

Collateral

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

Term:

30 & 40-year fixed

Loan Amount:

Up to $4 Million

Minimum Property Value:

$150k** **As-Completed Value

Rates:

Starting at 10.99%

Minimum FICO:

620

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.

WVOE

WVOE

LOAN CRITERIA

LOAN CRITERIA

Collateral

Term:

Loan Amount:

Minimum Property Value:

Rates:

Minimum FICO:

New Construction Loan Program Typical Leverages

TIER 1

PURCHASE

PURCHASE

REFINANCE

REFINANCE

TIER 2

PURCHASE

PURCHASE

REFINANCE

REFINANCE

TIER 3

PURCHASE

PURCHASE

REFINANCE

REFINANCE

TIER 4

PURCHASE

PURCHASE

REFINANCE

REFINANCE

READY TO GET STARTED?

New Construction
Loan Program Typical Leverages