A commercial real estate no income verification loan program designed for investors seeking a simple financing solution with the flexibility to remain in the loan for up to 30 years.
COMMERCIAL REAL ESTATE NO INCOME VERIFICATION PROGRAM
Transaction Types: Purchase, Refinance & Cashout Refinance.
Property Types: Tier I: Multifamily(5 + units), mixed use.
Tier II: Office, retail, warehouse, self storage, Auto Service(no gas).
Loan Amounts: $100,000-$5,000,000+
Loan to Value: 75% Maximum on Tier I, 70%-75% on tier II. 90% CLTV on purchases.
Amortization/Term: 30 years.
Rates: Fixed for 30 years. Shorter terms & interest only also available.
Rates depend on loan amount, LTV & middle credit score.
Rate buydowns are also available.
Origination Points: Flexible (par pricing available).
Prepayment Penalties: Flexible, depending on rate. A one year prepay is also available.
DSCR Requirements: Flexible. Partially vacant properties also considered.
Credit Scores: Minimum of 600 middle.
Mortgage History: Typically no more than 2×30 in past 12 months (exceptions possible).
To submit a loan:
Lending Coverage: All states with the exception of CA, AZ, NV, AK, AL, HI, ND, SD, MI, IL, VT, MN