Nationwide Credit Recovery & Finance LLC has relationship with a private Scotsman Guide approved wholesale and retail lender for small balance loans from $100k to $5 million.
They specialize in a TRUE NO STATED INCOME/ASSET DOC loan for 1-4 unit investment and commercial properties, NOW WITH OTHER OWNER OCCUPIED products! .With just a minimum mid fico of 600, you can get up to 70% LTV max with absolutely NO INCOME NO ASSETS verified (except for purchase).
This a very powerful investment tool for some of your clients to meet their investment property financing needs. This product is between institutional bank and hard money financing, who offer a more cost effective financing solution versus traditional hard money.
They have a NO BUY BACK CLAUSE!
NO INCOME VERIFIED
NO ASSETS VERIFIED (for purchase will verify down payment, and for 1st time homebuyer possible 2 months reserves)
NO TAX RETURNS
NO CPA LETTER
NO PAY STUBS
NO YTD PROFIT & LOSS
NO BALLOON PAYMENT
NO MAXIMUM NUMBER OF PROPERTIES OWNED
NO EMPLOYMENT VERIFICATION
MINIMUM 600 MID FICO OK for 1-4 UNITS, CONDOS, PUDs, MIXED USE, 5+ UNITS, COMMERCIAL OK FOR SALARIED/W2’D BORROWER REBATE PRICING (MAX 1, MAX 5 FRONT AND BACK END POINTS TOTAL) UNSEASONED FUNDS TO CLOSE OK
The product will help meet some of the demand for those challenging income qualifying issues for your clients without costing them an arm and a leg.