SEEKING 90-100% CLTV LENDER

[Rob Beeman]

Are there any lenders that offer 90-100% CLTV programs for the purchase of non owner occupied 1 to 4 unit properties, 5+ unit properties or mixed use properties? Essentially the lender would be allowing either a seller held second or a subordinate mortgage for the percentage between what they will fund as the first mortgage and the purchase price.

If so, what would the details of the loan be (LTV, rate, term, fico requirements, dscr, etc)?

The properties would be in the Philadelphia market.

[Monique Rene Coates]

Hi Rob,

I have a funding source that loans 100% LTV with no up-front fees, but the minimum loan = $10MM.  If your RE meets that criteria, e-mail me with your business plan and I'll put you in touch. 

Kindest Regards,

Monique Rene' Coates ([e-mail])

[Jeffrey Freis]

Jeffrey B. Freis Associates, Inc is a private investment bank with an active real estate finance division. Contact me to discuss projects you are seeking to fund. Interested 5+unit & mixed use properties.

Jeffrey B. Freis, President

Jeffrey B. Freis Associates, Inc.

Tel: [phone]

Fax:[phone]

Email: [e-mail]

www.jbfreisassociates.com

[Ray Antonelli]

Hi Rob,

I offer unsecured business lines of credit. A/K/A 100% financing.

You can use the lines for any purpose. Especially real estate.

50 to 250K.    If husband and wife each have good credit then the Max

amounts to qualify for increase to up to 500K. No upfront fees.

 

There are no mortgage or income requirements.

All we need is good to great credit and a federal tax ID for approval.  
Funding is fast. Approvals start two weeks after application date.  

Guarantors are welcomed if credit is not good enough to qualify.

Please check my Linkedin Recommendations
I’ve been named  one of the Top 100 Real Estate Pros on  Linkedin

http://realtybiznews.com/100-linkedin-real-estate-pros/98720621/

Here are the key qualities that underwriters look for.

1) No lates of any kind on the whole report.
one or two isolated 30s might be OK but will impact
the size of the credit lines at the minimum.

2) 8 years minimum history for revolving debt (credit cards)
Longer is even better.

3)  No or low credit pulls  in the last 12 months. A handful is OK.
15 or 20 is an automatic turn down unless they are cleaned off.

4) High credit card limits and low balances.  The balances can be no more than 30% of the limits on all cards.
My ideal client has a 25K card limit but owes  nothing  or maybe 3K and used to owe 20K but paid it back.
That tells the underwriter that this  client knows how to handle large sums of debt responsibly and will qualify for larger credit lines as a result.   10 to 15K card limits will also qualify. The difference is the credit lines will not be as high.

5) If the client does not meet the above, guarantors or co-signers are freely accepted.

Please call me if you think this would benefit you or your clients.

216 337 7520

[e-mail]
Regards,
Ray

[Felix Lopez]

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