Non Owner Occupied - Investor - Close in Entity Name

RESIDENTIAL - INVESTOR

RESIDENTIAL - INVESTOR

1 tp 4 Unit Properties

1 tp 4 Unit Properties

Solution for investment properties
  • Common-sense underwriting, they're simpler than ever to close.
  • Current Rate: 6.75%
  • 1 to 4 Unit residential properties
  • Must be non-owner occupied
  • Must close in entity name
INVESTOR PROGRAM GUIDLINES
  • Transaction Type Purchase / Refinance (Rate/Term & Cash-Out
    Loan Amounts $75,000 to $1,500,000
    Loan to Value Max 70% LTV
    Credit Score Required 640 Minimum (mid FICO)
    Amortization / Term 30 Year fully amortizing / 30 Year loan
    Pricing Par 6.7% Fixed for 3 Years, then 6 month ARM
    Prepay 3% for 3 years 
    Debt Comverage None

Other Program Guidelines:
  • Good Faith Deposit (Appraisal Dep.) required for third party reports: $500.00.
  • Lender to order all appraisals through preferred network
  • Impounds for property taxes and insurance required
  • CLTV = Max Matrix LTV
  • Loans are assumable at Lender's discretion - 1% fee
  • Loan is adjustable over WSJ Prime after fixed period
  • Rate locked when Lender draws docs
  • Not available: AK, GA, HI, IL, MN, MI, ND, SD, TN, UT, VT
  • $5 Million maximum cumulative loan amount to one borrower
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