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Updated about 2 years ago on . Most recent reply
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Non QM Bridge Loan
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.
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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