BORROWER: Business entity, Credit Score: Minimum 620
MINIMUM DSCR: No DSCR option available with 75% LTV at slightly higher rates. Call for more information.
PREPAYMENT PENALTIES ARE: 3% 1st year, 2% 2nd year, 1% 3rd year, Other options available, We now offer a no prepayment penalty option!
MAX LTV: Up to 85% for Purchase and Rate & Term Refinances, Up to 75% for Cash Out Refinances
INTEREST RATES: From 6%+
CASH-FLOW REQUIREMENTS: Qualifying income based on property cash flows, No Doc Loan, No W2, tax returns or 4506T required, Must have: own/owned 1 property (Primary or Investment), or hire a property manager, Closing in less than 30 days
LOCATIONS: Generally urban or suburban locations in primary, secondary, or tertiary markets.
PROPERTY TYPES: 1-4 unit attached/detached properties, PUDs, Condominiums
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