Nationwide Blanket Program
Fico: Apply Now
680 fico = max 75% LTV.
670 fico = max 70% LTV.
660 fico = 65% LTV.
Min. credit score is 620 for US citizens.
LTV for Non-recourse will be based on overall credit/loan profile.
All loans to foreign nationals are considered non-recourse.
Credit: Full tri-merge credit report. No Bk’s or foreclosures in past 2 yrs. Apply Now
Loan Terms: 30 Years Am. 5 & 10 year fixed rate options. Apply Now
Loan Size: $300k to $50M Apply Now
Max LTV: Up to 75% on stabilized, leased properties (for foreign nationals & US Citizens). See details about Fico above.
Min DSCR: 1.15% ** Interest only available at 70% LTV and below, 670 score needed Apply Now
Interest Rate: 5-7% for Fixed Period Apply Now
Property Types: SFR, duplex, triplex, 4-unit, townhouse, MF 5-20 units. Apply Now
Min Property Values:
$50k for 75% LTV,
$40k- $49.9k limited to 50% LTV,
Multi-Family $30k per unit.
If min property values are under this they cannot be included into the loan.
Term: 5-year-term, Yield Maintenance or Step Down: 5-4-3-2-1 (25bps rate add-on).
Term: 10-year-term, Yield Maintenance or Step Down: 9-8-7-6-5-4-3-2-1 (25bps rate add-on).
Seasoning: After 90 days of ownership this program will lend off full appraised value. Apply Now
Occupancy: 10 or more doors = 90%. 5-9 doors = 80%. Multi-unit properties= 85% Apply Now
Use of Funds: Purchase, Refinance, Cash-Out Refinance Apply Now
Territory: Nationwide Except for North Dakota, South Dakota, Alaska & Hawaii Apply Now
Lender Processing Fee: 0 Apply Now
Special: Apply Now
- Cannot lend on manufactured housing.
- Work with foreign nationals.
- The release of an individual property will be permitted upon prepayment by the borrower of 115% of the allocated loan amount tied to the specific property.
- Section 8 housing allowed.
- The loan is assumable with lender approval with a fee of 10k or 1% of loan balance (whichever is higher).
- No income verification for loans under 2 million.
- Substitution clause – the borrower could sub out up to 20% of the portfolio with similar properties (same value or better and same rent or better) without incurring the prepayment penalty – now for this option, you add .25 to the 5yr term or .15 to the rate on the 10yr option.
- Required Loan Docs:
- Executive Summary,
- Data Tape,
- Loan application,
- past two years tax returns on deals above 2 million (personal and business if applicable),
- Leases on all properties,
- Pictures of property,
- Tri-merge credit report,
- all corporate docs on new LLC that will be formed.