NO TAX RETURNS OR 4506T NEEDED

Property Types: Multifamily 5+ units (NJ -‐ <7 units must be NOO), Mobile Home Parks, Mixed Use, Office, Retail, Lt Industrial, Self-‐Storage

Nationwide top 120 MSAs except -‐ AK, ND, SD

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Permalink Reply by Perry Jones on March 20, 2016 at 6:29pm

What is the lending criteria?

Permalink Reply by Stephen Mitchell on March 21, 2016 at 10:11am

Program Guidelines

Property Types	Multifamily, Mixed Use, Office, Retail, Light Industrial, Mobile Home Parks, Self Storage, SFR Pools
Lending Area	Nationwide (except Alaska, North Dakota and South Dakota)
Loan Amounts	$200,000 – $5,000,000
Loan Term	30 Years
Amortization	30 Years
Minimum DSCR	1.20
Maximum LTV	Up to 75%
Fixed Rates	6.00% – 9.00%, then float
Better Credit Score	Rate Discount Available
Better Market Area	Rate Discount Available
Index	6 month LIBOR (after fixed period)
Margin	4.00% (after fixed period)
Rate Caps	1.00% initial, 1.00% per 6 months, 6.00% lifetime
Floor	Initial Rate
Occupancy	Investor and Owner-Occupied
Minimum Credit Score	Generally 650 (lower case-by-case, hard floor 500)
Personal Recourse	Required for 25% or greater ownership
Loan Cost	0.5% – 1.5% (Covers processing, underwriting and docs)
Rate Buydown	Available