Conventional Financing For Primary or Investment Purchases.

[Jerry Padilla]

Conventional Investment Financing For Up To Ten Properties!

You can borrow for up to 10 conventional mortgages, down to a price of 10k! You have the option of a 15, 20 or 30 year term.

For A Fixed Rate Purchase, Investment properties, Mortgages 1-6;

• A SFR requires a LTV of 85%
• A MFR requires a LTV of 75%
• A minimum credit score of 620

For A Fixed Rate Purchase, Investment properties, Mortgages 7-10;

• A SFR requires a LTV of 75%
• A MFR requires a LTV of 70%
• Minimum credit score of 720

Here are some answers to FAQ as well;

1. For all 1- to 4-unit investment property transactions, cash reserves equal to 6 months PITI for the subject property are required.

Cash Reserves Required For Other Properties Owned by Investor;

• If the borrower has 1-4 mortgaged properties, an additional 2 months for every other SFR investment property and second home is required and additional 6 months for every other 2-4 unit investment property and second home
• If the borrower has 5-10 mortgages, An additional 6 months for every other investment property and second home.

2. Gift funds are not allowed on Investment property transactions.

3. Escrows for taxes and insurance are required unless otherwise approved by the underwriter.

4. Loans for investment properties are not eligible if the transaction includes non-arm’s length and/or at-interest characteristics

5. Investment property transactions cannot close in trust.

6. Maximum 2% sellers concessions is allowed!!

Maximum loan amounts for investment properties, nationwide are below;

1 unit - $417,000

2 unit - $533,850

3 unit - $645,300

4 unit - $801,950

Fannie Mae's Requirement for 1-4 Mortgaged Properties.

Fannie Mae's Requirements for 5-10 Mortgaged Investment Properties

Freddie Mac Requirements for 1-6 Mortgaged Properties.

For non-owner occupied residencies, you can only go up to a maximum of these limits, including high cost area's.

Start The Mortgage Process With Jerry Padilla

At MB Financial we are a small local bank on a National level. We as a Lender offer conventional financing, with very little overlays, and go above and beyond for our clients. We have some of the lowest fees and rates in the industry. I personally am an investor myself and can relate to your financing needs.

• A credit tool to assist with improving your (or your clients) credit score to qualify for financing (Free of Charge)
• Investor loans - Financing for up to 10 investment properties, with Conventional Financing, backed by either Fannie Mae, or Freddie Mac
• Conventional or Refinance
• Cash Out Financing on the first six investment property's and a credit score as low as 620.
• Delayed financing with up to ten mortgages
• Credit scores down to 600 on FHA/VA/USDA loans - primary residence only
• National lender!
• Streamline refinance programs for FHA/VA/Conventional - Save money with less documentation
• Low rates & Low closing costs
• Jumbo Loans, to Sub $100k loans to Sub $50k loans to Sub $30k loans
• I personally am available extended hours
• Opportunity to increase your business to have more capital available for purchasing and rehabbing
• Lender credit available for purchases
• Automated approval system

Our current bank fee's (subject to change)

$995 admin fee

$9 flood cert

$37.50 credit pull

All other fees are standard and determined by out automated system

Sub $50k loans - there may be an origination charge or points possibly and is determined by the system when the loan is locked.

Rates fluctuate daily and are determined by credit score, and other factors.

Some of the areas we lend in are, but not limited to;

Reno, Carson City, Fernley, NV, Albuquerque, Santa Fe, Las Vegas, El Paso, Las Cruces,  Dallas, Fort Worth, Houston, The Woodlands, San Antonio, New Braunfels, Austin, Round Rock, Killeen Temple, McAllen Edinburg, Corpus Christi, Kingsville Alice, Brownsville Harlingen Raymondville, Port St. Lucie, Deltona, Daytona Beach, Ormond Beach, North Port Sarasota, Cape Coral, Fort Myers, Naples, Miami, Fort Lauderdale, Port St. Lucie, Orlando, Tampa-St. Petersburg-Clearwater, Jacksonville, St. Marys Palatka, Lakeland Winter Haven, Pensacola, Ferry Pass Brent, Palm Bay, Melbourne, Titusville, Atlanta Athens, Clarke County, Sandy Springs, Macon Warner Robins, Las Vegas, Henderson, Phoenix, Mesa, Scottsdale, Tucson, Nogales, Wisconsin, Milwaukee, Racine Waukesha, Madison Janesville, Beloit, Minneapolis, St. Paul