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Matthew John
  • Rental Property Investor
  • Metro Detroit, MI
269
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277
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Asset Based Lenders - What are my Options?

Matthew John
  • Rental Property Investor
  • Metro Detroit, MI
Posted Nov 29 2019, 16:01

Hey everyone, 

I've been doing some research the past couple months on 'no doc' lenders. 

Property must be in an LLC and they do not check your personal income or DTI, they loan based on the cash flow of the property and you get an interest rate based off your credit score.

I'm trying to compile a list and details of each of the lenders that offer this type of financing. I'm specifically looking to cash out refinance a property, but most also have the same type of loan for acquisition/rehab. 

1) Visio Lending - Decent rates high 5s-6s, but only go up to 70% LTV

2) LIMA ONE - Rates in the high 6s - high 7s, go up to 80% LTV

3) Corevest - Rates in the mid 6s, go up to 75% LTV

4) Tidal Loans - Mid 6s rates, up to 75% LTV

Are there any other companies out there that I'm missing?

I'm working on a LOC application with Corevest, so I have been leaning towards them, but I am open to whoever can get the best rates on 30yr financing under my LLC without dealing with income verification or DTI.

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