Investor Loan Program Highlights
- Qualify based on cash flow of the subject property
- Up to 25% variance allowed between lease agreement & market rent*
- No income | No employment verifi cation | No tax returns | No debt to income ratio calculated
- Business funds allowed for down payment, closing costs, & reserves for
- Use current value to refinance or cash out
- Loan amounts up to $2.5MM | Cash out up to $2MM
- Only 1 appraisal required when loan amount is ≤ $1.5MM (Loan to Value ≤ 75%)
- Own property under limited liability co.
- 20% down option available with 720 credit score
- Short-term rentals and gift funds allowed
- Borrower can own unlimited financed properties
- Enhanced pricing available with 3 year pre-payment penalty option
- Experience owning and managing investment real estate not required if debt service coverage ratio = 1.25
Multiple term options:
- 5/1, 7/1, 10/1 adjustable rate mortgages available with interest only options**
- 15 & 30 year fixed
A borrower with a 25% or greater ownership interest in a business is considered self-employed.
All states (including DC) are eligible except DE, ME, MA, WY.
*Up to 10% without proof or 25% with most recent three month rent receipt verifi cation
**No I/O in Illinois.