Drive TPO

DRIVE TPO — FIX & FLIP, CONSTRUCTION & NON-QM

FIX & FLIP / FIX & HOLD / GROUND-UP CONSTRUCTION

• Up to 92.5% LTC

• Loan amounts up to $4.5 million

• New and experienced investors accepted

• 12-, 18-, and 24-month terms

• Same-day LOIs available

• Light rehab through new construction

• Business-purpose investment properties only

• Leverage and eligibility vary by investor experience and project

DSCR — INVESTMENT PROPERTIES

• Up to 85% LTV

• Loans up to $4 million

• No personal income verification required

• Long-term and short-term rentals

• No-ratio options available on select programs

BANK STATEMENT — SELF-EMPLOYED BORROWERS

• Up to 90% LTV

• Loans up to $3.5 million

• 12 or 24 months of personal or business bank statements

• No CPA or expense letter required on select options

ADDITIONAL INCOME OPTIONS

• 1099 Only

• P&L

• Asset Depletion / Utilization

• Full Doc

• Owner-occupied and investment-property options

• Purchase, rate-and-term refinance, and cash-out options, depending on program

JUMBO AUS

• Loans up to $3.5 million

• Up to 85% LTV

• DTI up to 50%

BROKER SUPPORT

• Common-sense underwriting

• Corsa portal to price, submit, and track loans

• AcceleRate quick pricer

• $250,000 Minimum Loan Amount (exceptions allowed with additional 1.000 cost)
• Add 0.250 to cost for all New York loans (must be NOO in an Entity for NY)
• Investor No Prepay Pricing comes with a 7 Mo. Prepay to protect Broker Comp
• For Investment Properties vesting an Entity, all Entity Member must be individuals
• No Exception Requests on Series B2 and Series H < $1.0M
• Series B2 lock periods are 25/40/55 (not 30/45/60 as posted)
• Maximum 8 Units for Series H DSCR
• Maine, Missouri, Nebraska, New Hampshire, New York, West Virginia, Wyoming, MD are for business purpose loans, BPC only.