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ARV loans

REHAB LOANS     

 Our rehab loans can fund a max of 65% of the future value of the property (to be determined by a Broker Price Opinion or Appraisal). We can include purchase price, rehab cost and closing costs, not to exceed 65% of the after repair value (ARV). Our purchase only loans can fund up to 100% of the current value of the property. Our cash out programs can fund up to 65% of the current value of the property. We lend on properties nationwide except Hawaii.

 We do require a one-time $50 application fee at the time of application. This covers the cost to pull credit, open a new client file and complete a client and property evaluation.  We are not credit score driven, however we must pull a credit report on the borrower (and spouse if applicable) in order to calculate an accurate monthly debt to income ratio. We want to make sure the loan we will provide to the client is affordable and logical. We do not want to over extend the clients monthly obligations and put them in a bad position down the road.  We can lend as little as $25,000 to as high as $5,000,000. Our approvals are not solely equity based. We must be sure that the client will be able to afford the monthly interest only payments on the loan they are requesting. We may also request that an interest reserve is collected at closing on some of those higher risk transactions.


Annual rates can vary depending on which programs the client qualifies for. Rates can be anywhere between 9-15% annually, however we typically lend money for a max of 18 months.


Points can vary depending on which programs the client qualifies for. Points can range from 2% - 7%.   Once an application is submitted in completion (complete application and documentation package), we can have an approval within 24 hours. This approval will disclose any and all programs the client qualifies for complete with rates, terms, points, down payment etc. The client will then have the opportunity to ask questions, address any concerns and come to a decision if lender is a good solution for their funding needs.


We do not charge a pre-payment penalty. We encourage a quick flip. We do require an appraisal and/or a broker price opinion. This must be ordered in house prior to closing. Previous appraisals will not be accepted. The appraisal/BPO is an expense to the client.  Once the client has a property under contract and we have collected the full documentation package needed, we will be able to fund within 7-10 business days. 

WELLSPRING MORTGAGE AND INVESTMENTS, LLC - Company NMLS 1278395 NMLS #257619
8951 Cypress Waters Blvd Suite 160, Dallas, TX  75019
Office:  (214) 210-8133
Fax:  (469) 716-4020
cwilburn@wellspringmortgage.com
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