Blanket Property Loans Nationwide!

[Jim Lally]

We are offering a great nationwide blanket loan program.  Please see below for further details.  If interested please contact me at:  [email protected]  or 877-957-4357  x709

Fico: Recourse options: 680 fico = max 75% LTV. 670 fico = max 70% LTV. 660 fico = 65% LTV. Non-Recourse options: min. credit score is 620 for US citizens. LTV for Non-recourse will be based on overall credit/loan profile. All loans to foreign nationals are considered non-recourse.
Credit: Full tri-merge credit report. No Bk’s or foreclosures in past 2 yrs.
Loan Terms: 30 Years Am. 5 & 10 year fixed rate options.
Loan Size: $300k to $50M
Max LTV: Up to 75% on stabilized, leased properties (for foreign nationals & US Citizens). See details about Fico above.
Min DSCR: 1.15% ** Interest only available at 70% LTV and below, 670 score needed
Interest Rate: 5-7% for Fixed Period
Property Types: SFR, duplex, triplex, 4-unit, townhouse, MF 5-20 units.
Min Property Values: $50k for 75% LTV, $40k- $49.9k limited to 50% LTV, Multi Family $30k per unit. If min property values are under this they cannot be included into the loan.
Pre-Payment Penalty: Term: 5-year-term, Yield Maintenance or Step Down: 5-4-3-2-1 (25bps rate add on). Term: 10-year-term, Yield Maintenance or Step Down: 9-8-7-6-5-4-3-2-1 (25bps rate add on).
Seasoning: After 90 days of ownership this program will lend off full appraised value.
Occupancy: 10 or more doors = 90%. 5-9 doors = 80%. Multi-unit properties= 85%
Use of Funds: Purchase, Refinance, Cash-Out Refinance
Territory: Nationwide Except North Dakota, South Dakota, Alaska & Hawaii
Lender Processing Fee: 0
Special: Cannot lend on manufactured housing. Work with foreign nationals. Release of an individual property will be permitted upon prepayment by borrower of 115% of the allocated loan amount tied to the specific property. Section 8 housing allowed. Loan is assumable with lender approval with a fee of 10k or 1% of loan balance (whichever is higher). No income verification for loans under 2 million. Substitution clause – the borrower could sub out up to 20% of the portfolio with similar properties (same value or better and same rent or better) without incurring the prepayment penalty – now for this option you add .25 to the 5yr term or .15 to the rate on the 10yr option.

Required Loan Docs:Executive Summary, Data Tape, PFS, Loan application, past two years tax returns on deals above 2 million (personal and business if applicable), Leases on all properties, Pictures of property, Tri-merge credit report, all corporate docs on new LLC that will be formed.