Now a simple loan program for savvy investors!!!  "Fico Only Product" for Residential Investment 1-4's & Traditional Commercial properties!

If you answer yes to these simple questions, you can qualify for Velocity's "FICO Only Program"

 

DO YOU QUALIFY ???

  • Is the subject property a Residential Investment 1-4 (non-owner occ), Multifamily, Mixed-Use, Office, Retail, Warehouse, Self-Storage, Automotive?
  • Is the subject property located in a major metropolitan area with 100k residents or within a 25-mile radius?  (We lend nationwide except for ND, SD, IL, MI, AK, MN, NH, TN, VT)
  • Is the subject property 100% turnkey ready, habitable with no more than minor cosmetic repairs needed (if any)?
  • Is the subject property valued over $105,000 for Residential or $140,000 for Commercial? (LTV based off current "as-is" value and we use the lower of the two: Purchase Price vs Appraised Value)
  • Do you have a 640+ mid fico, with no mortgage lates, bankruptcies or foreclosures in the past 2yrs? (Exceptions for 2x30 if more than 90 days ago with a lower LTV)
  • Do you have at least 30% (25% for 5+ Multifamily & Mixed Use) down payment/equity for a purchase or refinance transaction?
  • Are you interested in keeping the property for at least 2-3yrs as a rental?

WHY VELOCITY? 

NO INCOME - NO TAX RETURNS - NO EMPLOYMENT VERIFICATION

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)!!!!

It really is that simple... Contact me directly with any questions or scenarios you may have.