RESIDENTIAL 1-4 UNIT LONG TERM LOANS

1-4 Unit Low Document Investor Purchase or Refinance Long Term Mortgages:

Long Term Fixed Rate Loans for Non-Owner Occupied Properties:
We offer a unique mortgage program for residential real estate investors. This program is a low
documentation, perfect for purchase, refinance or cash out after your have completed a rehab project. Program qualification is based on property income, LTV and FICO score, no personal income is required.

Long-Term (30 yr Fixed) Rental Loan Program Guidelines & Pricing:
Loan Amount: $75k-$3M
Minimum As-Is Appraised Value: $100k
Collateral: Non-owner Occupied 1-4 Family Residential Properties; Warrantable Condos; Townhomes; Planned Unit Developments (PUDs) must be rented on long term lease
Term: 30 Years, Fully Amortized
Purchase: Up to 80% LTV
Refinance: Up to 75% of the As-Is Value
Cash-Out: Up to 75% of the As-Is Value
Vacation Rental Properties (AirBNB allowed)
Portfolio Loans for 2+ Properties (Average property value $100k)
Rate: Starting at 6.49%
Points: Vary based on loan amount
Credit Score: 680 Minimum
Programs: 30yr Fixed, 5/1, 7/1, 10/1 ARM and Interest Only
Prepayment Penalty: 0yr to 5yr Year declining options
Borrower Liquidity: 9 Months of PITIA Reserves

Documentation for Purchase or Refinance for Rental Loans:

Application
Current market value estimate
Current rental income and market rent estimate
Property taxes
Hazard insurance annual premium
Copy of Lease(s)
HUD from purchase (if refinance)
Rehab budget for work completed (if applicable)
Valid ID
Purchase and sale agreement for the property (if purchase)
Sixty (60) consecutive days of statements of accounts for liquid assets
We will need the following documentation for the entity in which you will be vesting title: Certified Articles, Certificate of Good Standing, Executed Operating Agreement
Insurance policy quote for the property prior to closing
Contact information for your closing attorney or title company