loan application (click)

 

Loan Details

• Up to 70% LTV (including points & fees)
• 14.0% interest only payments
• 4 points origination
• 6 month term
• 3 month option to extend

• Minimum Credit Score of 650
• Appraisal and Inspection Fees of $300.00 are due upon loan submission. Loan applications will not be reviewed or processed until payment is received.
• No Foreclosures on Credit Report
• No Bankruptcy (discharged or dismissed in the last 24 months)
• A one time extension of three months may be granted at the sole discretion of Longhorn III Investments, LLC on a case by case basis. This will be based on loan portfolio status, payment history, and inspection. Extension terms are a 1 point fee for extension, and the interest rate immediately converts to 18%.
• The repair costs will be released in the form of draws as the work is completed. The draw schedule will be agreed upon and included in the loan documentation. All draws are subject to Longhorn's licensed inspector inspecting the property.