Verus Expands Its Investor Solutions and Renovation Loan Offerings – NMP Skip to main content

Verus Expands Its Investor Solutions and Renovation Loan Offerings

NationalMortgageProfessional.com
Jun 06, 2019

Verus touts a simplified process for lenders.

Verus Mortgage Capital (VMC) has announced updates to its short-term business purpose that will simplify processes for lenders substantially. Verus’ expanded RTL program has several new benefits, including:
 
►Clarity for lenders on what the exact upfront loan (Day 1 as-is LTB) amount will be without any complex loan to cost metrics
►Up to 100 percent financing for construction costs up to the properties as repaired value (ARV) limit
►Financing available for ground-up construction projects up to 18 months
►Bridge loan programs available
►Longer term rental take out loans based upon property debt service (DSCR) program up to 30-year loans
 
“Our simplified programs make it easier for lenders to do business with us,” said Ketan Parekh, managing director at Verus. “We now offer an easier-to-understand credit box review without changing the risk tolerance of our loans.”
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