RESIDENTIAL = COMMERCIAL = INDUSTRIAL
No Documentation – Where the borrower’s income is not disclosed to the lender. This underwriting class tends to have the highest interest rates and these are defined as ZERO DOC LOANS – Hard Money & Private Money Loans No/Credit or Income/Verification, No Bank Statements, No Tax returns, To credit check, No Seasoning or Sourcing of Fund and No reverses requires.
Full Documentation-Where the borrower’s income is verified by a federal tax return. Any loan involving an owner-occupied business will also require a business federal tax return. Loans in this underwriting class tend to have the lowest interest rate.
Credit Requirements-We work with all types of personal credit. (Generally, the higher the credit scores the lower the interest rate. However, in commercial mortgages there are many other factors that affect the rate).
Large Balance Loans-Generally are Large Balance Commercial loans that are $2,000,000 and up. The lending criteria on these deals focus more on project worthiness. However, sponsor/guarantor strength is still a factor.
Small Balance Loans-Generally are loans that are $1,999,999 and under. The financial strength and credit rating of the borrower/guarantor are very important in lending decisions. The project cash flow must also be at an acceptable level for loan approval.
On Fix and Flip our clients receive up to 75% of Purchase price and 100% of Renovation cost ( not to exceed 65% AVR )
Rates Starting
from 5.5%
ZERO UPFRONT
FEES
ZERO PRE-PAYMENT
PENALTIES.
NOT REQUIRED:
Bank Statements
or Income Verification
3 -7 DAYS
TO GET FUNDED
NATIONWIDE
LENDER
Conventional & FHA Loans
Florida & Georgia only
Small Balance Multifamily
BPO or Appraisal may be required
REFINANCE
CASH OUT
We Provide Pre-approval proof of funds letter for clients to present during Contract negociationg and auctions to increase their buying power.
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