Requirements

Here is what you need to know about KB Service Enterprises Inc

Financial Condition – Down payment, construction/rehab costs, closing costs, and three months’ reserves required
Cross-collateralization allowed
General applicant requirements
Applicant/borrower must be an existing, valid US
business entity (LLC, corporations, partnerships,
trusts, etc.)
Personal guarantor is required. Anyone with 30%
ownership of the entity, or more, is required to be a
personal guarantor)
US business entities with ownership by foreign
nationals are permitted to borrow

Non-owner occupancy only
Property types – SFRs, duplexes, triplexes, 4-plexes, condos, townhouses, MFHs
Clear title is required
One year of hazard insurance premiums paid at closing (including flood insurance, when applicable)
An 3rd party independent appraisal by approved national company ordered internally – “As-Is” & “ARV” values
depending on loan type, no older than 90 days

A renovation report is required
Private utilities must be inspected and certified (well, septic, etc.)
Property must be habitable, or funds are held in escrow – 100% of licensed contractor bid for repair and
released on draws
Lease agreements required on all subject properties that are rented
Licensed contractor bids are required on all repair work needed
No seasoning requirements on refinances, unless acquired by gift or quit claim in the last 24 months – then
Max LTV is 50%
Cross-collateralization – LTV’s remains the same when all properties are the same transaction type. Multiple
transaction types require LTV’s to be calculated separately for each property.

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