Cross Collateralization

Specialty Product:   Cross Collateralization

Description:

Cross Collateralization puts the Lender’s lien as a blanket lien on 2+ or more properties the Borrower owns.

Lenders:

5th Street Capital.

1099 Only

Specialty Product:   1099 ONLY

Description:

Lender uses upto 90% of 2 year average of 1099 Income – without Tax returns. Perfect for Borrowers who are Realtors and other Independent Contractors such as Uber drivers. Many Lenders offer the program

Lenders:

WESLEND

JET MORTGAGE

MEGA CAPITAL

JMAC  – 1099 only We use 90% of 1099 income and can go to 90%

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GREENBOX LOANS –  1 year 1099

· 80% LTV |  · 1 year 1099 only | · Non Warrantable condo | · 90% net margin (10% expense factor) | · 50% back end ratio

and many more

VOE Only

Specialty Product:  VOE ONLY

Description:

VERBAL VOE ONLY OR WRITTEN VOE ONLY

Lenders:

QUALITY BANC
VERBAL VOE
PORTFOLIO BANK PRODUCT
Owner Occ – Zero Income Docs
NO Tax Returns – NO W2’s
No Pay-stubs
60% Max LTV for Purch and Rate & Term( no cash-out)

MEGA CAPITAL

Great Wage Earners: No W2s, No Paystubs, No Tax Returns, No 4506T  – max LTV 75% [FICO 680]

JMAC

VOE Only to 80% LTV

NON-QM 2ND to 90% CLTV Full Doc & Bank Statements

Specialty Product:   2NDS -NON QM

Description:

Fixed Rate 2nds with Alt Income documentation

Lenders:

FUNDLOANS

JET MORTGAGE

LOANSTREAM

Land Loans

Specialty Product:   LAND LOANS ON VACANT LAND

Description:

VACANT LAND.

Lenders:

FIRST NATIONAL BANK OF AMERICA

One Time Close [Construction]

Specialty Product:  One Time Close Construction Loans [OTC]

Description:

One Loan by which Borrower can acquire the vacant Lot from Seller and finance the construction of a home using an approved Builder/Contractor all in one transaction/one loan process. The construction work does not begin until the Loan has funded. Once the Loan has funded the funds sit in an Escrow account to be disbursed to Contractor phase by phase. Available for all 4 Loan types FHA, VA, USDA and CONVENTIONAL.

Lenders:

AMERICAN FINANCIAL RESOURCES [AFR] – They don’t allow tiny homes, barndominiums, metal frame homes and log cabins. Anything that is a specialty home usually isn’t allowed.

UWM

FLAGSTAR BANK

Asset Depletion

Specialty Product:   ASSET DEPLETION

Description:

Assets converted to Income

Lenders:

LOANSTREAM  – Qualify by dividing assets over 60 months!

ANGEL OAK

many others

1 Year Self employed

Specialty Product:  ONE YEAR SELF EMPLOYED

Description:

1 YEAR SELF EMPLOYMENT HISTORY

Lenders:

ACC MORTGAGE

ACRA LENDING

ADVANCIAL – Short time self-employed borrowers and /or 1 year tax return program at lower ltvs priced as Full Doc

Tax Payer ID number [ITIN] No SSN#

Specialty Product:   ITIN number

Description:

use ITIN number, no SSN

Lenders:

CHAMPIONS FUNDING

LAND HOME FINANCIAL SVCS to 96.5% LTV with DPA!

JET MORTGAGE

many others

ALL IN ONE LOAN

Specialty Product:   ALL IN ONE LOAN

Description:

The All In One Loan. It is a 30-year HELOC with an integrated sweep-checking account. In other words, it combines your home financing and personal banking needs into one dynamic tool.  Click Here for How it works

Resource Center: https://allinoneloan.com/certification/Account/ResourceCenter 

Explanation Webinar [recorded with background noise, sorry!] https://vimeo.com/757771049/eaf56d3c87

Lenders:

CMG FINANCIAL

DSCR

Specialty Product:  DSCR

Description:

DSCR:  How To Calculate Your DSCR – Calculate your DSCR by dividing the Rental Income of the  property by the debt service of the loan [i.e. PITI].  Some Lenders will DSCR ratios as low as 1:1  – the higher the DSCR ratio [e.g 1.25] the higher the gross rent needs to be, compared to the mortgage monthly payment.  For Investment properties only.

Lenders:

BROKERS FIRST FUNDING – 5-8 Units DSCR

WESLEND

JET MORTGAGE

HOMEXPRESS –  DSCR = Only 10 days seasoning for funds to close.

CHAMPIONS FUNDING [will allow 0.75% Debt service coverage ratio]

QUALITY BANC MORTGAGE [QBM] DSCR Below:

QBM has 3 DSCR Solutions?
1. NON-QM- DSCR
ITIN to $1M & 75% LTV*
Up to $5M
80% Max LTV
As low as 575 FICO
Zero Reserves Below 75% LTV*
DSCR below .75 Available
1-4 Units
Qualifying with P&I Option Avail

1st time investors OK w/ a 680 Min FICO*
Interest Only OK
ADU Income considered
Short Term Rental(AirBNB /VRBO) Inc. considered
Delayed Financing OK
Condotel/PUDtel
Adult Care Facility
Rural
Manufactured Homes*
*****
2-8 mixed Use & 5-24 Units
Up to $3M Loan Amount
Min DSCR = 1
As low as 625 FICO
No Gifts Allowed
30 Day Asset Seasoning
As low as 6 Months Reserves
Cash out may not be used for Reserves
^
2. PORTFOLIO- NOO
Stated Income (DSCR not used)
NO Pre Pay!!
Up to $2M
1-4 Units
70% Max LTV Purch and R&T
65% Max LTV for Cash Out
38/43 DTI
700 Min FICO
Max 1×30 IN PAST 12MO
Reserves based on P&I
IO Not Available
Non-Warrantable Condos Not Considered

NO RATIO

Specialty Product:   NO RATIO

Description:

DEBT RATIO IS NOT CALCULATED

Lenders:

ACRA LENDING

TLA BANCORP

CHAMPIONS FUNDING

Business Purpose Loan

Specialty Product: Business Purpose Loan

Description:

For Investors Only

Lenders:

ACRA LENDING

HOMEXPRESS –  Business purpose loans to help build wealth- only 2 ratings required!

JCAP Financial Group –  BUSINESS PURPOSE LOAN on primary residence: no income, no min fico. 75% funds used for business purpose. 12 month note.
I just need to document with a certified letter from the borrower that all moneys (including debt being paid off) is for business purpose. A business purpose loan on a primary does not have to qualify, but 75% of the funds have to be for business purposes. so doesn’t usually work as a new first cause that existing first is usually a consumer loan, so that would make it more than 25% consumer purpose. so usually do business purpose 2nd so 75% of more of the funds for business purpose, confirmed with signed LOE, no steering. No income qualify. NEEDS SECT 32 (High Cost Class). 12 month note.

Foreign National

Specialty Product:   FOREIGN NATIONAL

Description:

Buyers that are Citizens of a foreign country can purchase homes in the U.S as long as they have a valid visa. These are often treated the same as DSCR loans but in some cases the Lender does require Income documentation from the country of origin.

Lenders:

5TH STREET CAPITAL

LOGAN FINANCE

Non Warrantable Condos

Specialty Product:   Non Warrantable Condo

Description:

Financing for Condos not eligible for Fannie Mae or Freddie Max delivery [Conventional]

Lenders:

TLA BANCORP

ACRA LENDING

ADVANCIAL

MULTI FAMILY 5 – 24 Units NOT COMMERCIAL

Specialty Product:  Multi Family 5-24 Units

Description:

Multi Family residential

Lenders:

ACRA Lending

LOGAN FINANCE: 5-8 Mixed use units

BRIDGE FINANCING

Specialty Product:   Bridge Financing

Description:

Bridge Financing program empowers borrowers to access equity from their current home to purchase a new home, with no monthly payments on the loan.

Lenders:

Lendsure

Finance of America Commercial  – Multifamily Bridge Program

Axos Bank

Commercial Capital Bidco – bridge loan on any commercial or investment property.

40YR INTEREST ONLY

Specialty Product:  40yr Interest Only payments

Description:

40yr Interest Only payments

Lenders:

BROKERS FIRST FUNDING

LOANSTREAM

Ground Up Construction for Investors

Specialty Product:  Construction Financing for Investors

Description:

Construction financing for Investors to build to sell. Development financing.

Lenders:

RCN CAPITAL

Finance of America Commercial Lending

NextRes

Lima One Capital –

• New Construction
  • Ground up – tear down/rebuild, 13,19 and 24 month terms
  • 1-4 units up to 70% LTARV, 65% Lot cost, and 100% of budget
  • 5-9 units up to 65% LTARV, 55% Lot cost, and 100% of budget

VESTING IN ENTITIES [LLCs, TRUSTS etc.]

Specialty Product:   XXXXXXXXXXX

Description:

Title to be held in entity = OK

Lenders:

Advancial

ADULT CARE FACILITIES

Specialty Product:   ADULT CARE/ASSISTED LIVING FACILITIES

Description:

Adult Care Homes

Lenders:

ACRA Lending

Quality Banc

Stated Income Verified Assets [owner occ]

Specialty Product:   STATED INCOME

Description:

Stated Income for Business Purpose [Purchase or refinance]

Lenders:

QUALITY BANC

TLA BANCORP

No Income or Employment Verified Stated] Owner occ

Specialty Product:  No Income Veif/ Stated

Description:

No Income Veif/ Stated

Lenders:

*** This section is being updated. Plz check back later ***

Private Money No Appraisals No Income No Reserves No Credit

Specialty Product: PRIVATE/HARD MONEY

Description: 

Equity Driven

Lenders:

LONE OAK FUND

JCAP PRIVATE LENDING

P&L Only [Self Employed]

Specialty Product: P&L Only for Self Employed Borrowers

Description: 

No Tax Returns: P&L prepared by CPA or Borrower [depends on Lender]

Lenders:

ACC

ACRA LENDING

many others

JET MORTGAGE’s P&L only details below
P&L Only Program Highlights

P&L Must Be Prepared by a CPA, EA, or CTEC
Borrower prepared P&L not allowed
P&L Must Cover a 12 Month Period and be Within 3 Months at Funding
Co-Borrower W2 Income Allowed
Up to 75% LTV
Min FICO 660
Up to $3M loan amount!
100% Gift Funds Allowed
FTHB Allowed
Primary, 2nd, and Investment Properties Allowed
3-12 Months Reserves
SFH, 2-4 Unit, Condos
Interest Only Available
Use any AMC
Cash out can be used for reserves
Min Expense Factor with a P&L is 20% for a service business and 40% for a product business

BANK STATEMENTS FOR INCOME

Specialty Product: Bank Statements for Self Employed Borrowers

Description: 

12 or 24 Bank Statements, Business or Personal

Lenders:

ANGEL OAK

JET MORTGAGE

WESLEND

GREENBOX LOANS – · They use 100% of the business deposits as income (personal, business and co-mingled) upto 90% LTV

many others

1 YR SELF EMPLOYED -1 YR TAX RETURN

Specialty Product:

Description: 

One Year Self

Lenders:

LOANSTREAM

1. Make sure they are SE in the same line of work as they were when they were W-2
2. Make sure the income on the P&L and bank statements is at or above the w-2 income job(10% variance allowed)
3. Verify that they have been SE for 12 months, not less
4. Get a copy of their business license
5. Make sure to do the narrative CORRECTLY – Let’s discuss
6. Do a VOE on the previous job to show 2 years history of employment, job description, income
7. Last w-2(4506c transcript)

PLEDGED ASSETS

Specialty Product: PLEDGED ASSETS

Description: 

Pledged Assets

Lenders:

AXOS BANK /PORTFOLIO

QUALITYBANC

LOANS TO $30 MILLION

Specialty Product: Loans to $30 million

Description: 

Loans to 30 million

Lenders:

AXOS – $30million

QUALITY BANC:
Up to $20M+
640 Min fico w/ Exception
Owner Occ – 50% LTV to $30M
12BS / Asset Depletion
55% LTV $10M – $20M
60% LTV $5M – $10M
65% LTV $3M – $5M

ADVANCIAL – Loans to $5,000,000 including cash out – only one appraisal required!

FIX & FLIP FINANCING

Specialty Product: FIX & FLIP FINANCING

Description: 

For Investors to borrow money to acquire real estate and fix/remodel with one loan. Typically based on “After Repair Value” of the home being flipped for profit.

Lenders:

Finance of America Commercial division – incl Ground Up Constructions

—————————————————————————

Lima One Capital

• Light to Heavy Rehab, 13 or 19 month terms available
• 1-4 units up to 75% LTARV (Loan To After Rehab Value), 90% of Purchase, and 100% of the Construction Budget
• 5-9 units up to 65% LTARV, 75% Purchase, 100% budget
• “Bridge Plus” option – no construction budget, 13,19 or 24 month term on purchase up 80% LTV – cash-out refi up to 70% LTV, distressed/deferred maintenance properties OK| much more aggressive rates/points than hard money guys – room to charge broker origination

————————————————————————–

KIAVI –

Fix-and-Flip (Bridge) Loans:

• Rates as low as 9.25%*
• Low lender origination fees and up to 2.00% YSP
• Up to 90% LTC and 75% ARV
• 12, 18, and 24-month terms available with interest as drawn on all** bridge loans
• Online, 24/7 access to billing statements and tax documents
• No application fee, no income and no employment verification

—————————————————————————-
LendSure’s Fix & Flip Home Financing Program

Now you can offer another innovative product to your clients. LendSure’s new Fix & Flip program is designed for investors who are in the business of buying distressed homes, repairing them and then either selling them or holding them for rental income. This program offers the same common-sense underwriting and service levels you expect with LendSure’s other loan programs.

Notes:

Loans for Homes in Mobile Home Parks