NO INCOME DOC / 30yr TERM / NO POINTS / BUY & HOLD Properties
We are a Nationwide Direct Wholesale Lender looking for Brokers/Investors who have an interest in our NO INCOME VERIFICATION loan program for "Buy & Hold" turnkey ready Income Producing Properties (acquisition or refinance). Here's the simplicity of our product:
PROPERTIES WE LEND ON
SFR/Condo - up to 70%LTV - No DSCR Required - Cannot be Primary Residence/Owner-Occupied - Have to currently own Primary & 1 Investment Property for PURCHASE MONEY TRANSACTIONS - REFINANCES require Primary and the Subject Property being Refinanced - 650 Min Fico Required - Min/Max Loan Amount is $75k-$750,000
2-4 UNITS - up to 70%LTV - Can be Owner-Occupied or N/O/O - 650 Min Fico Required - Min/Max Loan Amount is $75k- $2MM
Multifamily / Mixed-Use - up to 75%LTV - 1.20+ DSCR (No DSCR req if less than $500k/50%LTV) Min/Max Loan Amount is $100k-$5MM
Office/Retail/Warehouse/Self-Storage/Automotive - up to 70%LTV - 1.25+ DSCR (No DSCR req if less than $500k/50%LTV) Min/Max Loan Amount is $100k-$5MM
TERMS/RATE OFFERED
3 or 8 Year Fixed, Amortized over 30yrs, NO POINTS, with rates at *7.49% at par under our No Income Verification loan program - We do not offer a bank statement or full doc program at this time *standard 3yr PPP at 3% so not ideal for Fix & Flippers
WHY VELOCITY vs HARD MONEY?
NO INCOME/EMPLOYMENT VERIFICATION
NO TAX RETURNS
NO PAY STUBS
NO YTD PROFIT & LOSS
NO 4506/CPA LETTER
NO 12-24 MONTHS BUSINESS BANK STATEMENTS
NO BALLOON PAYMENT
NO CASH OUT RESTRICTIONS
NO RESERVE REQUIREMENTS
NO EXIT STRATEGY, PERSONAL FINANCIALS or EXECUTIVE SUMMARY
PROGRAMS FOR FOREIGN NATIONALS
OKAY FOR WAGE EARNERS & FIRST TIME INVESTORS
CAN FINANCE UP TO 12 PROPERTIES PER BORROWER
CAN VEST AS INDIVIDUAL OR LLC/CORP
1ST TD’s ONLY / PURCHASES & REFINANCES
LOAN AMOUNTS FROM 75k-5MM
NO MAXIMUM NUMBER OF PROPERTIES OWNED
FAST BROKER APPROVAL WITH NO BUYBACK CLAUSE
NO DCR ON SFR’s or COMMERCIAL LOANS UNDER $500k
6.75% Floor Rate, No Upfront Points, Fully Amortized Terms
NOW OFFERING BROKER REBATES UP TO 2PTS (5pts total commission per loan)!!!!