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Updated about 2 years ago on . Most recent reply

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1
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1
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Mauricio Cuevas
1
Votes |
1
Posts

Non QM Bridge Loan

Mauricio Cuevas
Posted

Hey guys, so i have a 40 unit multi family building I was renovating. I got all the mechanicals inspected and passed. I had to go out the country for a while and long story short my credit plummeted. I'm wondering if its possible to maybe get a loan of the AS-IS value. I own the property free and clear. Thanks for all the advice in advance.  

Most Popular Reply

User Stats

173
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125
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David Bilandzija
  • Lender
  • Venice, CA
125
Votes |
173
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David Bilandzija
  • Lender
  • Venice, CA
Replied

I broker loans to a small balance commercial lender that has "middle-ground" terms and requirements, with no cap on unit count.  No income verification underwriting.

600 mid FICO minimum

50% max LTV

30 year term

1 year pre-payment penalty minimum... loan can be used as bridge financing

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