NOVA Home Loans

NOVA Home Loans

Maximum Leverage

Purchase Short-Term (no Value-Add)
Purchase Long-Term
Refinance Short-Term (no Cash Out)
Refinance & Cash Out Short-Term
Refinance Long-Term (DSCR)
Residential Fix & Flip
Residential Rehab & Hold
Multifamily Value-Add
Loan Programs
Property Types and Loan Types
Junior Liens
Junior Lien Loan Amounts
Junior Lien Interest Rates
Origination Fees
Junior Lien Loan-to-Value
We Fund Junior Position Loans
Land Loan
Max LTV for Land
Max LTC for Land Acquisition
Purchase Loan
Max Loan-to-Purchase Price
Borrower Must Have Property Under Contract
Will Provide Proof of Funds Letter
Will Consider Lending on Purchase from Auction
Rehab Value Add Loan
Experience Required
Minimum Number of Value-Add Projects Completed by Borrower
Will Consider Lending on Purchase from Auction
Max LTC for Renovation Costs
Interest Charged for Renovation Costs
Typical Number of Days for Funds Draw
Construction Loan
Development Experience Required
Minimum Number of Ground-Up Construction Projects Completed by Borrower
Max LTC for Ground-Up Construction Costs
Interest Charged for Construction Costs
Will Lend on Partially Completed Construction Projects
Residential Long-Term DSCR Loans (1-4 Units)
Minimum Loan Amount
Maximum Loan Amount
Minimum Interest Rate
Maximum Interest Rate
Minimum Origination Fee
Maximum Origination Fee
Minimum Loan Term
Maximum Loan Term
Minimum Loan-To-Value
Maximum Loan-To-Value
Minimum Property Value
Seasoning Time
Minimum Debt Service Coverage Ratio
Minimum Credit Score
Will lend on vacation homes and short-term rentals
Will Lend on a Portfolio of Properties

Details and Requirements

Maximum Units for Multifamily Properties
Pre Payment Penalty
Deposit Required
Will lend to a foreign national
Will Consider Equity Joint Venture
Personal Guaranty (Recourse) Required
About

NOVA® Home Loans is Arizona’s largest privately owned mortgage lender and one of the most respected mortgage companies in each of the communities we serve. NOVA is licensed in 19 states with offices located in Arizona, Colorado, California, Nevada, Oregon and Washington. We continue to focus on helping borrowers achieve their homeownership goals.

For over 40 years, through the leadership of our Chairman, Jon Volpe, and CEO, Ryan Vondrak, along with a corporate and branch management team that is second to none, we firmly believe it is the people who work at NOVA who ensure the success of the company. We employ the very best in the business and continue to search for the best and brightest to join our team. NOVA offers the efficiency of a bank and the flexibility of a broker, all under one roof. This quick, smart and local approach of taking a loan from start to finish gives our borrowers a refreshing experience superior to other lenders.

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