Renovo Financial

Phone: 312-243-3288

Address: 1016 W Jackson Blvd, Suite 316 Chicago, IL 60607

Email: [email protected]

Website: http://www.renovofinancial.com

States They Lend In: Illinois

LOANS TO REHAB UNLIVABLE HOMES

FIX2FLIP

• Loan Amounts Per Property: Up to $1,000,000
• Interest Rate Origination Fee: Varies based on investing experience, credit and property
• Transaction Types: Purchase and Refinance
• Property Types: Single Family, 2-4 Units, Condos and Townhomes, Small Multi-Family, Mixed use Commercial
• Geography:  Geography is Chicagoland and Dallas
• Loan Term: 6 to 12 months
• LTV: Up to 60% of appraised value.
• Personal Guaranty: Required
• Guarantor Credit History: Typical minimum credit score 640. Will consider lower case-by-case.
• Initial Documentation: Typically, 2 years of Federal Tax Returns required, most recent paystubs,
  W-2 and two month bank statements for all liquid assets
• Property Ownership: LLC’s, S-Corps, Corporations only
• Foreign Nationals:  Yes. US entity property ownership required. Max LTV 50%.
• Appraisal: Full appraisal required. Ordered by Renovo
• Underwriting Fee: $1,000 Processing & Underwriting, $100 per phase of rehab for
  draw inspections

LANDLORD PROGRAM

• Loan Amount: Up to $1,000,000
• Property Types: Single-Family, 2-4 Unit Multi-Family
• Transaction Types: Purchase, Refinance, or Cash Out
• Geography: Nationwide
• Minimum Property Value: $125,000
• Property Ownership: Held in a business entity (e.g. LLC, S-Corp)
• LTV: Typically 65-80%, depending upon seasoning and other credit factors
• Guarantor(s) Credit History: Credit score of 640+
• Minimum Cash Reserves: $25,000
• Foreign Nationals: Considered on a case-by-case basis
• Tax & Insurance Escrow: Required
• Appraisal: Full appraisal required. Ordered by Renovo
• Initial Documentation: Get started with your most recent W-2, paystub, and
• REO Schedule: Prepayment 1 year