Yes, we will reimburse for a soft cost that is directly associated with the project such as, zoning, plans (site utility, structural, mechanical), and permits at the closing table assuming you have paid out of pocket for these services before closing. If not, we can reimburse as the project is completed.
Yes, if it’s rented and the borrower’s credit score is above a 640.
If the borrower owns the property for longer than six months, we can use the current appraisal value. If the property is owned for less than six months, we use the purchase price of the property.
No, unless 50% of the building is residential