Fix & Flip Disclosures

Disclosures

1. Loans are subject to investor and business credit approval, appraisal, geographic location of the property, and other underwriting criteria. Loan amounts and rates may vary depending on the loan type, LTV, verification of application information, and other risk-based factors. Application fees, closing costs, and additional fees may apply.
2. Products NOT available in North Dakota, South Dakota, Vermont, or the U.S. territories of Puerto Rico and Guam.
3. Approval for cash-out depends on many loan factors and may not be available on every loan.
4. LTV is determined by a combination of factors, including experience, liquidity, net worth, and FICO score.
5. LTC is determined by a combination of factors, including experience, liquidity, net worth, and FICO score.
6. Multi-family properties (5-20 units) financing is only available with our Portfolio Rental Loan, Fix & Flip, or Bridge property loans.
7. Borrowers are approved for a maximum exposure limit based on their experience, liquid assets, net worth, and credit score. Each property financed on this exposure limit is subject to property approval under Omni Lending LLC’s terms and conditions. Each property has an individual secured loan.
8. Omni Lending LLC’s Investor underwriter will determine the Extensive Rehab designation based on the budget and project scope review. Projects with > 50% may be classified as Rehab, and projects ≤ 50% may be classified as Extensive Rehab based upon the Underwriter’s review.
9. We have a limit of $10,000,000 combined Omni Lending LLC recourse loans to an individual guarantor.
10. On Express Portfolio Rental Loans: 2-8 Unit Properties and Condos will be limited to 75% LTV.
11. Property loan pricing, leverage, and required reserves will be determined based on experience.
12. Loans > $2MM have a max LTC of 60%. Loans > $1MM ≤ $2MM have a max LTC of 85%. Borrowers with 0-2 years of experience will be capped at $1MM.
13. Property values ≤ $150K are limited to 75% LTV max. Loans > $1.5MM are subject to reduced leverage and may require a higher qualifying FICO.
14. Condos will be allowed case-by-case for New Construction loans.
15. Maximum LTC advertised for qualified, experienced investors (5+ flips, builds, rentals in last 36 mos.) on standard rehab purchases. Initial disbursement is limited to a max of 90% LTC.
16. New Construction loans require experience of (1) New Construction property built and sold or stabilized at max leverage. Borrowers with (1) Fix & Flip experience are eligible at reduced leverage. Experience is based on a 36-month lookback period.
17. A no-fee alternative valuation option is available for Standard Fix & Flip, Bridge, and Single Rental loan products with loan amounts ≤ $1MM (and ≤ 65% LTV for Single Rental). Alternative valuations are subject to market coverage availability; full appraisal may be required.
18. Non-structural rehab allows materials to be removed from a building without compromising the load-bearing or exterior walls and the roof. Non-structural items include doors, cabinet sets, flooring, trim, windows, and other finishing materials.
19. Pre-Qualification Letters are estimates based only on non-verified information provided by the Borrower and should not be relied on as investment advice. They are not a loan approval, commitment, or guarantee to lend.
20. Non-recourse loan options are subject to approval by Omni Lending LLC.