Under this program, CCP Offers the following:
- Interest Type: Fixed Rate
- Standard Loan Term: 12 Months
- Payment Type: Interest Only (“IO”)
Minimum/Maximum Loan Amounts
Min: $75,000
Max: $1,000,000
- The minimum FICO score is 501.
- There must be at least two scores available from the three credit bureaus.
- If 2 credit bureau scores are reported, the representative score is the lower score.
- If 3 credit bureau scores are reported, the representative score is the median score.
- If two individuals are listed on loan (e.g.,individual and guarantor),CCP will use the lower score.
- There may not be more than four 60 day or more late payments within the last 24 months
Real Estate Transactional Experience
CCP will conduct diligence on the borrower’s prior real estate transactional experience. Borrowers provide past real estate transaction history and are then classified into one of four levels based on experience.
The table below represents the minimum activity required to qualify for each respective levels.
| Tier 1 | Tier 2 | Tier 3 | Tier 4 | |
| # Purchase (Ever) | 75 | 25 | 3 | 0 |
| # Purchase (12m) | 25 | 12 | 2 | 0 |
| # Purchase (6m) | 13 | 6 | 1 | 0 |
| $ Volume (Ever) | $15,000,000 | $5,000,000 | $600,000 | 0 |
| $ Volume (12m) | $5,000,000 | $2,400,000 | $400,000 | 0 |
| $ Volume (6m) | $2,600,000 | $1,200,000 | $200,000 | 0 |
Loan Types:
| Property Type: | SFR, 2-4 units, Condos, Townhomes, PUDs | Loan-to-Value: | Up to 90% of purchase price, not to exceed 80% of as-is value | |
| Transaction Type: | Purchase or Refinance | Rehab Holdback: | Up to 100% of project cost | |
| Interest Rates: | As low as 7% | Loan Term: | 6 or 12 months | |
| Origination Points: | Not to exceed 4% | Rate Type: | Fixed rate, interest only | |
| Junk Fees: | None, legitimate 3rd party fees charged at cost with no mark-ups | Prepayment penalty: | None |
