30 Year Fully Fixed Program
Fico: 630 +
Loan Terms: Up to 30 years AM. and fully fixed!
Loan Size: $45K – no max loan amount!
Max LTV: 75% domestic borrowers, 70% foreign nationals.
Debt Service Ratio: 1.3
Interest Rate: 6.50%-8.85%
Pre-Payment Penalty: 5%
Use of Funds: Purchase, Refinance, Cash-Out Refinance
Lending Territory: Nationwide, No Population Requirements
Certain Origination/Underwriting Restrictions Apply to these States MT, NV, ID, AZ, HI, ND, SD, AR, NY, VT & ME.
Minimum Property Size: 700 square feet
Lender Fee: 2% of the loan amount or $3,500 min.
Closing Time Frame: 30 business days
Appraisal Cost: $450-$600 per property
Can be used as a portfolio/blanket loan as long as all properties are in the same state. Secondary financing is not permitted.