for residential or commercial properties, then this may be the product for you. We offer both 3, 5 & 7 year fixed rates based on a 30 year amortization. Our lending group requires a minimum 650 credit score & and a full appraisal on the property. Limited borrower financial documentation is required, We fund up to 70-75% of the property appraised value fast and with no hassles. This loan product funds on a current appraised value, not an after repair/improvements value.
If you are looking for a loan for a rehab, see rehab funding. If you are looking to lock in financing for the next 3-5 years with rates significantly lower than “hard money”, this may be the loan program for you.
Application Response Time | 24 hours |
Processing & Closing | 10 – 21 day Turnaround |
Loan Type | 1st Mortgage Deed of Trust |
Max/Min Loan Amounts | |
1-4 Units | $2,000,000 / $100K |
5+ Units | $5,000,000 / $100K |
Max Loan to Value | 75% Appraised Value 5+ Units |
70% Appraised Value 2 to 4 Units 65% Commercial Retail, Offices |
|
Credit Score | 650+ Minimum |
Borrower Investment for purchase | 0% Minimum |
Property Types | Non-Owner Occupied Single Family, Multi-Family Mixed Use, Office, Retail, Warehouse, Light Industrial |
Term/Amortization | 3 & 5 Yr Fixed 30 Yr Fully Amortizing (Others Available) |
Rate: | 8.49-9.99% |
Points | 2-4 points |
Fees |
|
Application Fee | $350 |
Underwriting & Commitment Fee | $1,395 |
Appraisal/Broker-price opinion | $300-$2,500 |
Document Prep | $500 |