Eastern Capital, LLC.
We fund these loans through out the USA..
Stated Income programs
3 year fixed rates
Tier I Tier II
Multifamily & Mixed use Office, Retail, Warehouse, Self Storage, Auto Service
FICO/LTV 70% 65%
700+ 7.99% 8.99%
650—699 8.25% 9.25%
Underwriting notes:
Transaction type: Purchase, Refinance & Cash out refinance
Loan amounts: $250,000 to $2,000,000 (Exceptions possible for smaller or larger loan requests)
Amortization/Term: 30 years fully amortized; No balloons: Shorter amortizations also available
5 Yr. fixed rate option: Add 100bps to rates above
Index: WSJ Prime. Margin: 4%
Rate caps: 2% per adjustment, then 1% periodic. 2% annual-6% life over start rate.
Rate buy downs: Available: Please inquire for specifics. Loan amounts over $750K qualify for 50bps reduction to rate
Prepayment penalty: 5% for each year loan is fixed
DSCR Requirements: Tier I: 1.20x; Tier II: 1.25x
Min. Credit score: 650 Middle
Lending Coverage: All States
Population Requirements: Metropolitan areas (Exceptions possible)
Contact Roger Abuata at: rabuata@eastern-cap.com OR (626) 786-3207
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