Fico: Typically 650+ Apply Now
The lender does work with credit challenged borrowers as long as the credit issues have been resolved and the story makes sense!
Loan Terms: 25-30 year amortizations. 3, 5, 7, and 10 fixed options
Loan Size: $300K to $30M
Max LTV: Up to 75%
Debt Service Ratio: 1.25+
Interest Rate: 4.00%+
Property Types: Apply Now
Stabilized MF properties 5+ units
Mobile home parks
Student & senior housing (without an assisted living component)
Step Down Prepay
Typically step-down prepayment penalties during the fixed rate portion of the loan.
Use of Funds: Purchase, Refinance, Cash-Out Refinance Apply Now
Coastal Southern California, San Jose, Salt Lake City, Chicago, San Francisco Bay Area, Boston, Washington DC, Philadelphia, Seattle, Minneapolis/St. Paul, Denver, Portland, NY Metro, New Jersey, Miami, San Antonio, Austin
Work with Foreign nationals as well but at a lower LTV. Non-recourse loans are offered at a 50% LTV. No Seasoning on properties income! This means the property could recently be producing stabilized income and the lender will lend off of that- they do not require the property has been producing that income for 1-2 years in order to lend!