Niche Loan Products – Sub-prime – Commercial – Foreign Nationals Program


Residential Loans

Loans in these States: AZ,CA,CO,ID,KS,MT,NE,NM,OK,OR,TX,UT,WA,WY only
-Rates between 8.99%-11%
-O/O-65%,N/O/o-70%, 2nd homes – purchases
-Refi-65%-70%
-SFR’s,Condos,Townhouse,2 to 4 units
-Loans down to $25K-$2M- $5M (case-by-case)download
-Lending to: Individuals,family Trust,LLC/Corp/LLPs/IRA’s
-Full Doc- W-2, & Paystub, 1040’s or 24 months Personal bank statements or equity depletion
-Alt doc – 12 months personal bank statements or 24 months business statements
-Stated – allowed on corporate owned and/or business transactions only

-Minimum deferred maintenance
-Down to 550 fico- 40%-50%

Commercial Loans

-Multi-Family, Mixed Use, Office Buildings, Retail, Self Storage, List Industrial, Warehouse, Class A/B Mobile Home Parks, Class A Parking lots
-Investment or Owner-User
-Loan Terms- 6,12,18,24 months I/O
-30/3,30/4 and 30/5
-Loan Amounts- $100k – $5M
-Lending to: individuals/Corp
-LLC/IRA’s/LLP’s
-Family Trust

-Full Doc – 2 yrs returns, based on income not DTI
-Stated Doc- Investment properties only, Tax returnscommercial-loan

-Max LTV- 65%-CA,CO,HI,OR,TX,WA,AZ,UT
-60%- ID,MT,WY,NM
-55% – OK,KS,NE,SD,ND
-Some have pre-payment penalties – inquire

Special Loan

-No minimum Fico
-Mortgage must be current at time of submission
-1 day out of BK
-Stated available on business purpose loans
-Alt-Doc available- 12 & 24 months bank statements
-NO pre payment penalty available
-Residential- O/O, N/O/O, & 2nd home (AZ,CA,CO,ID,OR & TX)money_house_image
-Multi-Family, Mixed-Use,Office,Retail,Self Storage (CA,AZ,CO,UT,OR,WA & TX)
-Loan amounts from $100k – $1M
-Non-Fannie Mae/Freddie approved condo projects- OK
-Purchases and Cash out
-Must be in major metro area.
-Property must show “pride of ownership”
-If rehab or finish construction – inquire
-No high vacancy factors on commercial properties

FOREIGN NATIONALS PROGRAM

-No Point Options Available
-No Fico Necessary
-No Proof of Income Necessary
-No SS Necessary
-No Credit Necessary
-No Green Card Necessary
-Must be N/O/O
-Money in Foreign Banks or Offshore Accounts OKForeig1
-Mattress Money OK
-65% LTV on O/O with ITIN # and proof of ability to repay
-60% LTV Financing Available Purchases – Stated
-55% LTV Financing Available Refinance – Stated
-Only requires a Passport
-Loans up to $4M (exceptions considered on higher loan amounts)
-if borrower has American Credit it will price off Core Rate Sheets
-If Borrower has no American credit it will be priced off “B” credit on Core Rate Sheets

Eligible Property Types: Residential SFR, Condo, 1-4 units
–Non-Warrantable condos and Condotels OK
-Multi-Family
-Mixed Use
-Office Building
-Office Condo’s
-Retail
-Groups of condos or Residential Properties Owned by LLC or Corp

Commercial
AZ,CA,CO,HIID,KS,MT,ND,NE,NM,OK,OR,SD,TX,UT,WA,WY

Residential
O/O,N/O/O, 2nd Home Consumer loans: AZ,CA,CO,ID,OR,TX,UT – (broker needed in ever state)
O/O,N/O/O, Business purpose loans: AZ,CA,CO,ID,NM,Ok,OR,TX,UT,WA,WY (broker needed in AZ)
N/O/O, Business purpose loans: AZ,CA,CO,ID,KS,MT,NE,NM,OK,OR,TX,UT,WA,WY (broker needed in Az,MT,NE)

Consumer Purpose Sub-Prime 8%

CA,AZ,OR,ID,CO, & TX Only!
-700 Fico Purchase 80% LTV, Refi-75% 8%
-650+ Fico Purchase 80% LTV, Refi-75% 8.3%
-600+ Fico Purchase 75% LTV, Refi-70% 8.9%
-550+ Fico Purchase 65% LTV, Refi-60%

-No O/O refi in TX
-SFR’s- Condos – Townhomes – 2 to 4 unitsrefinance-home-loans
-Condotels – NO area restriction
-Non warrant-able condos – no add-on and no reduction to LTV
-Must show “Pride of Ownership), if need rehab, hard money terms are offered.
-All loans are 7 year, interim fixed, variable rate 30 year fully amortized product
-30 yr Fixed available
Loan Amounts: $50K-$2.5M maximum – Owner Occupied
-$50K-$500K – Non-Owner Occupied
-Loan Amounts $1M to $2.5M Requires

approval
-Loans greater than $2M requires 2 appraisals
-Loans smaller than $1M requires traditional full doc or 24 months bank statements

No pre-payment on any consumer products
Max DTI- 35%-50%
All down payment funds must be sourced in the last 60 days
Gift funds are acceptable up to 80% LTV – direct relative

Loan amounts smaller than $1M must the borrowers- NO gift funds

Hard Money terms:
550 Fico or Greater
BK’s within 1 year
Foreclosures within 1 year
Can have: mortgage delinquencies within 1 year, rehab properties, Stated loans

Properties that are listed currently or recently- OK within 6 months

Business Purpose Sub-Prime Commercial

AZ,CA,CO,ID,KS,MT,NE,NM,OK,OR,TX,WA,WY
-600 Fico-700 Fico
-Rates from 7.99%-9.99%
-No 1040’s
-No Schedule E’s
-No 4506 Forms
-No Impounds Required
-Stated
-N/O/O and Investment purposes only
-SFR, Condo, Townhouse, 2-4 unitsBusiness alliance
-5+ units Multi-family and Mixed-use
-Major Metro area
-3 and 5 year fixed variable 30 yr fully amortized
There are pre-payment penalties
-Loan amounts from: $100K – $750K Residential / $100k – $1M
If you request larger than $1M, you must use hard money.

To prove income: Copy of leases, Rent Roll, YTD income and expenses

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