***Property Cash Flow Loan***

[Jim Blackburn]

Highlights

• no tax returns, transcripts, w2s, or paystubs required
• qualifies on 90% of market rents from the appraisal rent schedules

• does not have to be rented at time of purchase
• no additional collateral pledged
• can close in a LLC (2 person max in LLC, borrowers must be personally liable)
• unlimited number of financed properties
• non-warrantable condos allowed

Requirements

• subject property must be for investment
• own a primary residence
• zero late mortgage payments in last 24 months
• must have at least 3+ active consumer credit tradelines paid as agreed for past 24 months
• no gifts allowed (down payment & closing costs must be sourced and seasoned for 60 days)
• 6 months PITIA reserves required on subject property
• no bankruptcy, short sale, deed in lieu, or foreclosure in past 2 years (also mist not have more than 1 event in last 5 years)
• appraisal must be "As Is" (no repairs needed... IE. We were unable to close until broken tiles were replaced.)

Example

• 2 unit with 1,000/unit = 2,000/mo
• 90% = 1,800/mo
• max PITIA = 1,800

Cell: 773.234.2584