AT FIRST GLANCE • No personal income verification • Single-close convenience • 1–4 unit residential • Investor focused underwriting HOW DOES IT WORK? Our No Doc Construction to Perm Funding program combines construction financing with a long-term investment mortgage in a single loan. PROGRAM HIGHLIGHTS Our No Doc Construction to Perm Funding program combines construction financing with a long-term investment mortgage in a single loan. Qualify on projected market rents ideal for real estate investors who hold properties in LLCs or have complex tax returns and income. • 75% Max LTC/LTV on most programs • 1.0x Minimum DSCR at stabilization • 6–18 Month construction period • 30yr Fixed or ARM perm term • 680+ Minimum credit score • LLC Entity vesting accepted EXPANDING YOUR PORTFOLIO 1st Florida lending offers No Doc Construction to Perm Funding for real estate investors for build-to hold, build-to- sell and build-to-rent strategies. Leveraging our program will enable faster, more customized decision-making and options for your development projects.

HIGHLIGHTS AND FEATURES Two phases, one closing Unlike a traditional construction loan that requires a second closing and refinance, this program converts automatically at project completion saving time, fees, and rate risk. 1. Construction Phase Draw funds in stages as construction milestones are met. Interest-only payments during the build period are based on drawn balance. Inspector signoffs required per draw schedule. Interest-only draws 2. Stabilization & Underwriting At completion, the property is appraised using an "as-stabilized" value and a comparable market rent appraisal (Form 1007). Then your Debt Service Coverage Ratio is calculated: Example: Monthly Gross Rent ÷ PITIA. 3. Automatic conversion to permanent loan No second closing, no re-underwriting of income. The loan converts to your selected permanent structure with selected terms that best fits your scenario at the pre- agreed rate or market rate at conversion. If your land has equity it can be reduced or eliminate the down payment. THE APPROVAL PROCESS NO FINANCIAL’S AND NO TAX RETURNS : You qualify based solely on the property's projected market rent. No W-2s, no tax returns, no employment verification. SINGLE CLOSE: One-time closing costs. Pay closing costs once. No second closing to convert from construction to permanent loan saving you thousands in fees and weeks of time. LLC VESTING: Entity ownership IS accepted. Title may be held in an LLC, LP, or S-Corp protecting your personal assets and maintaining your investment structure. DRAW SCHEDULE: Milestone-based draws. Funds released in stages tied to construction progress, inspected by a third-party draw management service. RATE OPTIONS: Flexible permanent terms and rate lock options available during construction period. PORTFOLIO SCALE: No limit on properties owned. Grow your portfolio without conventional Fannie/Freddie limits. Designed for active investors with multiple properties. FREQUENTLY ASKED QUESTIONS How is the loan calculated? This loan is approved based on a Debt Service Coverage Ratio process that measures whether a property’s current or future income covers its debt obligations. It is calculated as: Monthly Gross Rent ÷ Monthly PITIA (principal, interest, taxes, insurance, and HOA if applicable and typically qualifies for the best pricing. How is rent determined if the property isn't built yet? At the time of the permanent conversion, a licensed appraiser completes a market rent analysis provides form 1007. The appraiser surveys comparable rentals in the market to establish a supportable market rent figure. Underwriting uses this number not projected figures from the borrower to calculate monthly income value. Do I need to show personal income to qualify? No. this loan is underwritten based on the property's income potential, not the borrower's personal income. This makes them ideal for self-employed investors, those with complex tax returns, or investors whose properties are held in LLCs. Credit score and asset verification (for down payment and reserves) are still required. (If you own the land, you can apply the equity as part or all of the down- payment What happens if construction runs over budget or timeline? Budget overruns must be funded from the borrower's own reserves; underwriting will not increase the loan mid-construction without a formal modification. Timeline extensions may be granted on a case-by-case basis, typically up to 90–180 additional days. Borrowers are encouraged to build a 10–15% contingency into project budgets. What is typical construction draw fees? Draw inspection fees typically range from $150–$350 per draw and paid at the time of each draw request. Most programs allow 4 to 8 draws over the construction period. Some underwriters use third-party draw management companies that also handle lien waivers and inspector coordination. How Equity in your Land Down can apply to your Down Payment. If your land has equity it can be reduced or eliminate the down payment. Do you own the land free & clear? That's your down payment. If you already own the lot with no existing liens, the appraised value of that land counts as equity toward the project reducing or eliminating the cash you need to bring to closing. Land equity is one of the most powerful and underused advantages an investor can bring to a construction-to-perm loan. In many cases, it satisfies the entire down payment requirement. How land equity replaces cash Underwriting calculates your loan-to-cost (LTC) and loan-to-value (LTV) based on total project cost and as-completed value. When you contribute land you own free and clear, its appraised value is treated the same as a cash down payment thus reducing the risk and your out-of-pocket requirement.