Interesting Loan Product from Tyler Oden at Suntrust!
A conventional product that will allow for you sellers and buyers to
move those properties that need just a little or a lot of TLC.
Escrow hold back option with no rate add on or excessive fees. $100
more in closing costs for the final inspection. -We allow the escrow funds to go directly to the licensed contractor
with a W-9 (or the borrower can be reimbursed if they pay out of
-90% loan to value, appraisals are subject to completion of the improvements. -No sourcing of the contingency funds of 50% of the repair costs (to
be refunded to borrower after final inspection)
-$20,000 limit can be waived on a case by case basis -90% loan to value
Barry Bevis, Broker/Realtor