Re-Hab and Re-Sale Loans
American Commonwealth Mortgage Company is offering RE-HAB & RE-SELL loans to investors that are buying foreclosed and distressed houses, fixing them up, putting them in re-saleable condition and selling them. These are short term loans, 6 months plus possible two 90 day extensions on NON-OCCUPIED houses in southern Nevada.
Loan Terms
| LOAN AMOUNTS: | $25,000.00+ |
| TERMS: | 6 Months + Up to 2 - 90 Day Extensions |
| INTEREST RATE: | 8%-12% |
| POINTS: | 4 Points; 1 Points for each 90 Day Extension |
| LOAN TO VALUE: | 60% Of Purchase Price |
| UNDERWRITING/DOC PREP: | $ 500.00 |
| LOAN PRIORITY: | First Trust Deed Only |
| PERSONAL GUARANTEE: | Required |
| INSURANCE: | 150% Of Loan Amount Required |
NO PREPAYMENT PENALTIES! NON-OCCUPIED ONLY
Qualifying
| APPLICATION: | Required |
| FICO: | 625+ |
| BANK STATEMENTS | 3 Months Required |
| RESERVES: | Rehab Funds + 9 Months Payments |
| TITLE REPORT: | Required/ Title Insurance Required |
| PURCHASE DOCUMENTS: | Appropriate to Transaction |
Contact:
AMERICAN COMMONWEALTH MORTGAGE COMPANY
DAVID CABRAL OR JIM ZURBRIGGEN
536 E St. Louis Ave, Las Vegas, NV 89104
Tel: (702) 731-3163