Purchase/Contract Price: The price at which you are purchasing the subject property
After Repair Value: The value of the property once the rehab is complete (what you will list it for)
Down Payment: The difference between the loan amount and the purchase/contract price
Loan To Value: Loan Amount/After Repair Value (typically around 70%)
Points: 1 Point=1% of the loan amount. Points are paid to BLC to originate the loan
Interest Rate: Annual Interest Rate
Monthly Interest Payment: The monthly, interest only, loan payment
Acquisition Funds: Funds that are utilized strictly for the purchased of the property
Construction Holdbacks: Funds that are approved, but held back at closing and distributed as part of a draw schedule throughout the construction phase.
The Loan Calculator is used for informational purposes only. All loans are subject to an inspection/appraisal and various other factors prior to a final loan approval.