Property Criteria and Loan Details

Property Criteria and Loan Details

Our Loans are based on the After-Repaired Value (ARV) of the property and include both Purchase and Renovation funds.

Loan Terms

  • Up to 70% of the After Repaired Value (purchase price + renovation budget combined), the lesser of the two
  • 6 month term
  • 3 month Auto Extension option
  • No prepayment penalty*
  • 12% interest only payments (Auto Debit Payments on the 1st of Every month)
  • 3 points origination
  • Appraisal fee: Typically $400 (we charge the actual cost of an independent appraiser’s fee)
  • Lender Fee: $995; Credit Report Fee: $30; Flood Certification Fee: $15

Borrower Requirements

  • 620 minimum credit score
  • Minimum of 6 months liquid reserves – Checking/Saving/Money/Market/CD, etc
  • No recent foreclosure and/or bankruptcy activity

Additional Requirements

  • Residential (1-4 family) investment properties only
  • First lien only
  • Appraisal and inspections must be ordered by Wildcat Lending, LLC *
  • Borrower must provide a minimum 6 months insurance policy (term of loan required) to be paid in full on or before closing
  • Insurance Dwelling coverage may not be less than the loan amount and the coverage must include vacancy, vandalism and malicious mischief
  • Wildcat Lending Fund One, LP. shall be named as the mortgagee
  • Properties should be located in or around the major metropolitan areas of Texas
  • Owner and Mortgagee title policies required
  • Loan requirements may be adjusted by Wildcat Lending, LLC at it’s sole discretion

 

*Yield Maintenance Applies