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Multi-Unit Investment Property Mortgages

Investor DSCR Mortgage Program

The Real Estate Investor Program offers flexible income documentation options, including Full Doc or DSCR (Debt Service Coverage Ratio)

Purpose: Purchase or Cash Out Refinance

Income Documentation: Full Doc or DSCR (Debt Service Coverage Ratio)
Eligible DSCR and LTV Ratios:
Debt Service Coverage Ratio (DSCR) .75% – 1.5%

Loan-to-Value (LTV): 80% Purchase and 75% Cash Out Refinance

Super Jumbo Loan Amounts from $250,000 to $7,500,000

Credit Score Requirement: 620

Eligible Property Types: Single Family Residence (SFR), Condos, 2-4 Units
Eligible Occupancy: Investment Properties
Terms Available: 10-year arm, 30-year fixed, 40 year fixed. Interest only also available
Underwriting Notes: Investors, 1-10 Financed Properties allowed even if non-owner occupied.

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Super Jumbo DSCR $4,500,000

Debt Service Coverage Ratio (DSCR) continues to be popular with real estate investors. Below are guidelines using Long- and Short-Term Rental Income.

We can use higher of current market rent or lease stating rental income, depending on the scenario. No limit to number of financed properties and no resverve requirement increase.

DSCR – Short-Term Rental OK

Eligible Transactions: Purchase, Refinance Rate/ Term and Cash Out Refinance

Eligible Borrowers: Natural Person, Business Entity, and Foreign National

Eligible Property Types: Single Family Residence, 2 Unit, 3 Unit, and 4 Units, warrantable Condos and Non-Warrantable condos

Eligible Occupancy: Non-Owner-Occupied Only

Jumbo Loan Amounts: $4,500,000

85% LTV to $1,500,000 – 620 Credit Score

85% LTV to $2,000,000 – 640 Credit Score

85% LTV to $2,500,000 – 660 Credit Score

85% LTV to $3,000,000 – 680 Credit Score

85% LTV to $3,500,000 – 700 Credit Score

85% LTV to $4,000,000 – 720 Credit Score

85% LTV to $4,500,000 – 740 Credit Score

Use short-term market rent – Appraisal Form 1007 or Current lease dollar amount for long-term rental

Debt-Service-Coverage Ratio: .75 – 1.5. Expense Factor 15% on rental income. 85% of short-term or Long-Term rental income. Use Interest-Only Payment to qualify

We allow Title in a Trust, Corporation, or LLC, and don’t report entity Title on the borrower’s credit report

Minimum Credit Score – 600

We use highest credit score out of three.

12-month Short-Term rental payment history and AirBnB internet listing, etc. <12-month history considered case-by-case.

Pre-payment Penalty: 1 year minimum

Term: 40-Year Fixed, 40-Year Fixed Interest-Only, 30-Year Fixed, 30-Year Fixed Interest-Only, 10, 7, and 3-Year ARMs

Stated Income/Verified Assets – California

2024 Update: Credit Score Requirement: 680 Minimum

Purpose: Purchase, Refinance and Cash Out Refinance

** Purchase and Rate/ Term Refinance to $3,500,000 & 80% LTV
** Cash Out Refinance to $1,500,000 “cash-in-hand’ & 75% LTV

    Owner-Occupied Stated Income Loan Program

    Almost all Stated Income loans are for investment properties. This loan is special in that it gives the option for people that cannot or prefer not to verify their income to purchase or refinance their primary home in California.

    Income Document Requirements: Does Not Apply

    Income documentation is not required. Income is stated on the 1003 Residential Application

    Self-Employment Verification Document Requirements (VOE):

    * Business license
    * CPA letter
    * Business Certificate

    Eligible Occupancies:

    ** Owner-Occupied
    ** Non-Owner-Occupied
    ** Second Home (75% LTV Max)

    Eligible Property Types:

    * Single Family Residence – Attached
    * Single Family Residence – Detached
    * 2 Unit
    * 3 Unit
    * 4 Unit
    * Condominium

    Eligible Borrowers:

    ** US Citizen
    ** Permanent Resident Aliens
    ** Non-permanent Resident Aliens

    Underwriting Notes:

    * The borrower cannot have more than 10 financed properties. No limit on number of properties owned

    * Mortgage insurance not required.

    * 10 Acres Maximum

    * 2 months bank statements or a VOD, Verification of Deposit, personal or business bank statements OK.

    * `Gift Funds for down payment OK. 5% borrower contribution required

    * Liens on subject property must be a minimum of 6 months seasoned. 12 months on a HELOC with no draws within the last 12 months

    * Verified Asset Requirements: Loan amounts less than $1,000,000 – 6 Months Reserves (Housing * * Expense). For loan amounts greater than $1,000,000 – 12 Months Reserves (Housing Expense)

    Appraisal Notes:

    ** Full Appraisal required, interior and exterior with photos of both
    ** Desk review required for all loans greater than $750,000
    ** Property cannot have been on MLS for more than 90 days
    ** No purchase seasoning required for refinance – utilize current market value for LTV purposes.

    Credit History Notes:

    Payment history: No 30-day lates within previous 36 months on mortgage or rent and consumer debt, revolving or installment. 3 year active history on a minimum of 3 accounts (tradelines) required

    Available in the Following States:

    California

    reference# 254 525020215

    Hard Money Loan Asset Based Program

    This program is an asset-based lender

    Stated Income / No Doc

    Currently in foreclosure OK

    Currently in bankruptcy or past bankruptcies OK

    In probate OK

    Residential and commercial properties

    Available in the Following States:

    Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Nevada, New Hampshire, New Jersey, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, and Washington.

    Bank Statement Loan Options for Self-Employed

    Self-Employed Borrowers: Personal Bank Statements, Business Bank Statements and Comingled Bank Statement Accounts

    Bank Statement Alt Doc Options Available – 2023 Updates

    We calculate your monthly income number (DTI purposes) before your loan is submitted to the underwriter based on either your previous 3 months, 6 months, 12- or 24- months bank statements. Saves time because it will be a clean loan, the way the underwriter likes it. Quicker turn times and happy borrowers. Interest rates are always important. Service is key. Mortgages can come with a lot of moving parts.

    * 20% Minimum Business Ownership Required

    * Gift Funds OK to 100% with 5% Borrower Contribution

    * One Year Business History Required

    Eligible Property Types:

    * Single Family Residences (SFR) (attached and detached)

    * 2 Units

    * 3 Units

    * 4 Units

    * Condos

    * Non-Warrantable Condos (70% Max LTV)

    Eligible Occupancies:

    * Primary / Owner-Occupied

    * Second /Vacation Homes

    * Investment Properties

    * ADU OK (5% LTV reduction) First Time Investors

    Investor Service

    First time investors can be eligible with no previous housing expense (rental history/mortgage payment) for the previous 12 months.

    Rent free (no current housing expense (10% LTV reduction 680 credit middle score)

    Available in the Following States:

    Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.

    California Hard Money Jumbo – 80% LTV

    Jumbos and Super Jumbos – Cash-Out – 600 Credit Score

    Second Mortgages also Available. Private Money Lender, southern California based with LTVs up to 80% on Investment properties all throughout California. Airbnb rental income, OK. Direct lender out of Irvine California focusing on value-add residential, commercial and Business Purpose mortgages.

    Second Mortgages also Available. Private Money Lender, southern California based with LTVs up to 80% on Investment properties all throughout California. Airbnb rental income, OK. Direct lender out of Irvine California focusing on value-add residential, commercial and Business Purpose mortgages.

    Loan Scenario Form ~~ Credit Check Not Required ~~

    Super Jumbo Loan Amounts to $30,000,000

    ** 80% LTV Hard Money

    LTVs are based on borrower’s real estate experience, type of transactions, subject property location, county and zip code, and the overall credit profile of the borrower.

    Income Documentation | Liquid Assets | Employment Requirements

    No personal income verification. Liquid Assets for Reduced Investor Pricing and Underwriter Guideline Exceptions.

    Loan Scenario Form – Credit Check Not Required ~~

    Eligible Property Types:

    Single Family Residence Attached/ Townhome | Single Family Residence Detached (SFR-D) | 2-4 Units | 5+ Multi-Family Units | Condominiums (<4 stories) | PUD.

    Available Terms:

    Short-term 6-18 months. 2 year and 3 year, and 7 year ARMs are also available for long-term rental investors. Interest-Only (I/O) available on all terms. Pre-Payment options are available for reduced pricing.

    ** Loan Program Benefits ~

    Inhouse control: Servicing, Fund Control, 5-Day Close

    Available in the Following States:

    Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

    One Month Bank Statement Loan

    Self-Employed Borrower Programs

    Refinance Loans

    Self-Employed and Investor

    Non-QM Lender Categories

    Second Mortgages

    Alt Doc Purchase Loans

    Non-Prime Mortgages

    Non-Prime Mortgages