Alternative Income Second Mortgage
Non-QM lender offers a closed-end, fixed-rate structure tailored for the needs of self-employed individuals and real estate investors. With a minimum FICO score requirement of 640 or above, it provides an avenue for these borrowers to access financing with confidence
No Income Documentation or Employment Verification
Access loan amounts up to $3 million with flexible financing options designed to meet your investment goals. Enjoy cash-out opportunities of up to $1 million, providing valuable funds for property improvements, debt consolidation, or other financial needs.
This combination of high loan limits, cash-out flexibility, and reserve requirements creates a balanced solution for real estate investors seeking reliable financing.
Various loan options including fixed-rate, ARM, & IO ARM
Secure loan amounts up to $3 million with flexible financing solutions tailored to your needs. Enjoy cash-out options available up to $1 million, providing liquidity for investments, property improvements, or other financial goals.
Minimum Debt Service Coverage Ratio (DSCR) of .75
Benefit from a low minimum Debt Service Coverage Ratio (DSCR) requirement of just 0.75, enhancing eligibility for borrowers with diverse financial profiles. Choose from a range of loan options, including fixed-rate, adjustable-rate mortgages (ARM), and interest-only ARM for greater payment flexibility.
Service to Accommodate
Suitable for:
* First-time investors
* Investors seeking cash-out (up to $750k)
* No requirement for residual income
Eligible Property Types include:
* One Unit Single Family Residences (Attached and Detached)
* PUDs (Attached and Detached)
* Condos (Low and High Rise)
* Site Condo
* Townhouse
* 2-4 Unit Properties
* Modular Homes
Details:
* Minimum FICO: 620
* Maximum LTV: 85%
40-year loan term option available
This program accommodates the unique financial circumstances of self-employed applicants by allowing qualification based on either 12 or 24 months of bank statements, 1099 income, business purpose No Ratio, “P&L Only”, etc.
Additional Full Documentation in Conjunction
* Wage earners, traditional income documentation is accepted, ensuring flexibility to meet the diverse needs of borrowers across different income streams.
Documents and Tools
Tools include Debt Service Coverage Ratio (DSCR) Calculator, Bank Statement Calculator, P&L and 1099 Calculator, Self-Employed Income Calculator, and Asset Depletion Calculator.
Certain Investment Property Loans exempt from state-specific licensing requirements in:
Available in the Following States:
Available in the Following States
Alabama, Arkansas, Colorado, Connecticut, Washington DC, Florida, Georgia, Hawaii, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Missouri, Montana, Nebraska, New Jersey, New Mexico, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin, and Wyoming.