$100k biz loan? Any lenders think i qualify in MY SITUATION?

[Christopher Abernathy]

I have copied this directly from the email i sent a lender i found. 

I am interested in getting a no doc biz loan, which i hear is easy on a personal guaranteed line of $100K for even a new business. I opened an LLC at end of august 2017. i would like to use this for the small 3% down on this $451K residential property we found and the rest on rehab once in the property.

EMAIL SENT: 

! PLEASE DO NOT RUN CREDIT UNTIL AUTHORIZED!

1. Traditional Residential home loan requested :

$451,000 @ 4.5% Rate or less. 3% Down

2. Business Line of credit requested :

$100k before the open of Residential escrow

No Document - Personal Guaranteed - business Funding.

INCOME

(buyer) Christopher  - $65,000/yr - 3+ year same field

(co buyer) Joshua  - $30,000/yr - 3+ year same field

(Spouse of buyer) Magnolia  - No income

CURRENT CREDIT SCORES ON 1-7-18 Tr Eq Ex

(buyer) Christopher  - 680 / 740 / 721 -1 Equifax collection

(co buyer) Joshua  - 657 / 656 / 619-3 collectons

(Spouse of buyer) Magnolia  - 670 / 693 / 670 - no collections

FUTURE CREDIT SCORES ON 2-6-18 Tr Eq Ex

(buyer) Christopher - 778 / 750 / 738 -no equifax collections

(co buyer) Joshua  - 644 / 660 / 688-3 collectons

(Spouse of buyer) Magnolia - 719 / 736 / 723 - no collections

DEBT

(buyer) Christopher : -$1300/mo

(co buyer) Joshua : -$50/mo

(Spouse of buyer) Magnolia : -$0/mo

TAXES

(buyer) Christopher  - joint married 2 dependants / 1099 / w-2

(co buyer) Joshua  - single w-2

(Spouse of buyer) Magnolia  - joint married

===============================================================

Articles included Below in Drop Box: $%^&* i will provide articles after contacting each lender.

(buyer) Christopher :

*credit report

*w2-15/16

*Tax returns 15/16

*CA ID

(co buyer) Joshua-

*credit report

*w2-15/16

*Tax Returns 15/16

*CA ID

*Paystubs

(Spouse of buyer) Magnolia  -

*credit report

*CA ID

===============================================================

Property:

2 units - 1.15 acre

Price : $451,000

Listed : 12-9-17 (29 days on market)

Finance: 3% Down traditional

(FHA WILL NOT LEND DUE TO 3RD UN-PERMITTED STRUCTURE)

Front right 4br/1ba unit : currently rented @ $1,500/mo income considered at 75%

Front left 2br/1ba unit : currently rented @ $1,000/mo income considered at 75%

Un-permitted middle studio unit : currently rented @ $600/mo

Traditional Residential home loan requested : $451,000 @ 4.5% Rate or less. 3% Down

Alan Abernathy

[Nicholas Scatton]

You can get a no doc loan. prob not for that amount though considering your income. and you cant use 3 people on a loan. it is also a loan not a line of credit. typically interest will be around 9-10%.

[Christopher Abernathy]

@Nicholas Scatton thank you for your reply. i missed my notification on your reply. Are you at all able to help me from your location?

[Wayne Brooks]

You are not going to get a $109k line of credit/unsecured loan....just not going to happen.

[Jay Hinrichs]

you might get unsecured CC but no line of credit in the true sense..  although you never know with those new on line companies like prosper etc.. I have never used them.. but I think people get some loans there.. as crazy as it is for the private lenders doing those..