If you need longer term money and higher leverage, less seasoning, etc., please don't hesitate. Available in most states, NOT just CA.
Stated income Investor Loans:
*Investor Single Family (1-4 units, townhomes and condos) ONLY!
*CASH OUT to 75% LTV; Purchase to 80% (certain criteria)
*Term up to 30 YEAR FIXED (default to 5/1 ARM)
*TRUE STATED INCOME (No Tax Returns, No W-2, No REO Schedule, NO DTI calc)
*Based off Property Income (exceptions too)
*NOT LEASED OKAY (market rents)
*AIRBNB/VRBO Income OKAY!
*640 Min FICO
*ONLY 30 DAY SEASONING on Refi's to use appraised value
*Rates as low as 6%
*Loan amounts as low as $125,000
*NOTE - these are not hard/private money fast closes (~30 days or so)
Cash-out Refinance in Sacramento, CA
$444,000 Loan Amt
5/1 ARM @ 7.75%
Paid off Hard Money loan, and got borrower into long term w/ over $60,000 cash in hand
do you lend in Michigan?
@Arsen Atanasovski ..MI is okay, but certain areas are no go. Feel free to PM.
What are reserves requirements, please?
@Alex B ...3 months liquid reserves (PITIA) plus cash to close, if purchase. If refinance, default to 3 months liquid. If you need anything else, let me know or PM.
Originally posted by @Jared Rine :
@Alex B...3 months liquid reserves (PITIA) plus cash to close, if purchase. If refinance, default to 3 months liquid. If you need anything else, let me know or PM.
How about non-warrantable condos? Thanks
@Alex B ...no problem. These aren't held to requirements like that (Fannie/Freddie, etc.).
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