We
lend 70, 75, or 80% of the purchase price of the property plus 70,
75, or 80% of the repair budget, subject to the after repair value
appraisal of the property and depending on the borrowers’
qualifications and the property. The maximum loan-to-cost for
Arizona properties is 70%.
An example is shown below. The downpayment requirement is subject to
underwriting and may be lower or higher than in the example shown below.
Example at 75% of Purchase Price Plus 75% of Fix-up For Qualified
Properties and Borrowers (Each loan request is subject to
underwriting and approval and factors considered include, but are
not limited to, the strength of the property as well as the
borrower’s credit, liquidity, net worth, income, and experience.)
| Loan | Down Payment | |||
| Purchase Price = | $150,000 x 75% = | $112,500 | 25% From Borrower = | $37,500 |
| + Improvement Costs = | $20,000 x 75% = | $15,000 | 25% From Borrower = | $3,750 |
| Total = | $127,500 | $41,250* |