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Purchase: 65% Max LOAN TO VALUE *
Refinance: 60% Max LOAN TO VALUE *
FICO: Min 650
Loan Amounts Up to $3 Millions,
Min: $100,000
Property Types: Owner Operator Occupied Single Family Residences. Exclusively.
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For properties that are operated as an Adult Care Facility (“ACF”) / Assisted Living Facility (“ALF”), Lender will compute the Service Coverage Ratio by utilizing the reconciled Debt market rents based on Appraisal.
2). The business cannot interfere or conflict with the residential use of the property;
An Adult Care Facility / Assisted Living Facility can be considered on a case-by-case basis if it is a residential property where the property has not been modified or otherwise detracting from the marketability of the property from its residential use consistent with #2 above. Lender will consider the manner of qualification and other compensating factors in pricing but will not lend at greater than 65% LTV / CLTV respectively for purchase or 60% LTV / CLTV refinance transactions.
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