Experience Minimum

Ineligible Project Scope

Loan Amount

Eligible Properties

Ineligible Properties

Borrower Type

LTV Maximum ARV

Minimum FICO

• Single Family Residences, attached or detached (inc. Condo/PUD)

• 2-4 Units

• Warrantable Condo

• Non-Warrantable Condos (5% LTV reduction from max. See full matrix for property eligilbity)

Rural (case by case), Multifamily, Mixed-Use, Manufactured, Condotels, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines

660 (see full matrix for details)

None except for loans >$1M; experience with similar sized projects required

 Purchase, limited cash-out (includes delayed financing), or cash-out

Non-Structural, Non-Gut Rehab

75%

LTC Maximum

Loan Purpose

Project Scope

90%

$100,000 Minimum to $2,000,000 (>$1M requires an exception except for 2-4 Unit or properties in CA or HI) Maximum Maximum

0-1 Experience Borrowers

Maximum budget of $100k or 50% of acquisition, whichever is less. Properties in declining markets, 2-4 unit properties, and loans over $1M are ineligible.

• New or Mid-Construction

• Structural Renovations

• Properties not structurally sound

• Removal of exterior walls (including the roof structure)

• Removal of interior load bearing walls

• Adding additional story, detached ADU or additional units

• Adding/Subtracting square feet

• Conversions

• Properties with Extensive Damage (Fire or Water)

• Full Gut Rehab (Down to the Studs)

• Budgets with Significant:

• Demo
• Framing
• Mechanical
• Rough Plumbing
• Rough Electrical

Entity or Individual (see full matrix for details)

Term Options

12 months (18 months available at Truly discretion)

Amortization

Interest Only

Prepayment Penalty

None

Experience Minimum

Ineligible Project Scope

Loan Amount



Borrower Type

Ineligible Properties

LTV Maximum ARV

Minimum FICO

• Single Family Residences, attached or detached (inc. Condo/PUD)

• 2-4 Units

• Warrantable Condo

• Non-Warrantable Condos (5% LTV reduction from max. See guidelines for

property eligilbity)

Entity or Individual (see full matrix for details)

LTC Maximum

Loan Purpose

Project Scope

2+ investment properties rehabbed or constructed and sold or stabilized in the last 3 years. Loans >$1M required experience with similar sized projects

Term Options

Amortization

Prepayment Penalty

12 months (18 months available for 2-4 unit projects at Truly discretion)

Interest Only

None

• Any Structural Work

• Full Gut Rehab (down to the studs)

• Budgets with Significant:

• Demo
• Framing
• Mechanical
• Rough Plumbing
• Rough Electrical
  

Eligible Properties

New or Mid-Construction; Conversions; Mid-Rehab Refinance paying off a loan; Properties with Extensive Damage (Fire or Water)

75%

660

$100,000 Minimum to $2,000,000 Maximum (>$1M requires an exception except for 2-4 Unit or properties in CA or HI)

Purchase, limited cash-out (includes delayed financing), or cash-out

Rural, Multifamily, Mixed-Use, Manufactured, Condotels, Farms, Storage

Facilities, Commercial Properties, Land, among others as indicated in guidelines

85%

Experience Minimum

Maximum Loan Amount

Minimum Loan Amount

Eligible Properties

Ineligible Properties

Borrower Type

LTV Maximum ARV

Minimum FICO

2+ New Construction Experience: 660
0-1 New Construction Experience:700

None (2+ new construction projects completed in the last 3 years required for loans over $750,000)

LTC Maximum

Loan Purpose

$100,000

Residential, Non-owner occupied, business purpose only.
Single Family Residences (inc. PUD), 2-4 Units

85%

75%

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

$2,000,000 (>$1M requires an exception except for 2-4 Unit or HI/CA properties)

Loans in excess of $1M require the borrower has specific experience with similar project of equal size in the subject's market.

Multifamily, Condos (case by case), Rural, Mixed-Use, Manufactured, Modular, Log
Homes, Farms, Storage Faciliites, Commercial Properties, Land, among others as
indicated in guidelines

Term Options

12 months (18 months available for 2-4 Unit Projects with 2+ Construction

Amortization

Interest Only

Prepayment Penalty

None