Can Someone Help Me Decipher This Lender Offer?

[James Spence]

I'm still new to this. Can someone thoroughly explain these terms?

65% ltv max of the PP due to fico & 4 Plex, 40/3, 10.99-11.99% (will firm up upon receipt of the appraisal) , 6 mos pp, 2 points & $1300 lender fees

[Robert Leonard]

@James Spence here's how I read it:

65% Loan To Value is the maximum amount of the Purchase Price they will loan you, due to your fico score & the condition of the 4 Plex.  They will offer a 40 year amortization/with a 3 year balloon (or rate adjustment).  The interest rate will be 10.99-11.99% (will [determine actual interest rate] upon receipt of the appraisal of the property) .  You will have to pay 6 months prepaid (?), 2 points [2% of the purchase price] & $1300 lender fees due from you at closing.

I'm not sure what the 6 months pp is?  Otherwise, that's what the rest of what you posted should mean.