• Gift funds are not allowed on Investment property transactions.
  • Escrows for taxes and insurance are required unless otherwise approved by the underwriter.
  • Loans for investment properties are not eligible if the transaction includes non-arm’s length and/or at-interest characteristics
  • Investment property transactions cannot close in trust.
  • Maximum 2% sellers concessions is allowed!!

You can borrow for up to 10 conventional mortgages! You have the option of a 15, 20 or 30 year term.

For A Fixed Rate Purchase, Investment properties, Mortgages 1-6;

  • A SFR requires a LTV of 85%
  • A MFR requires a LTV of 75%

For A Fixed Rate Purchase, Investment properties, Mortgages 7-10;

  • A SFR requires a LTV of 80 - 85%
  • A MFR requires a LTV of 75%
  • Minimum credit score of 720

1. For all 1- to 4-unit investment property transactions, cash reserves equal to 6 months PITI for the subject property are required.Cash Reserve Requirements;

6 months PITI is required on subject property.

If you have 1-4 financed properties than it is now 2% of all unpaid principle balances.

If you have 5-6 financed properties than it is now 4% of all unpaid principle balances.

If you have 7-10 financed properties than it is now 6% of all unpaid principle balances.

Money must be in account for 60 days or sourced. A HELOC can be used as down payment, but not as cash reserves.

Acceptable Sources of Reserves; Cash and assets that are liquid or near liquid

  • Checking or savings accounts
  • Investments in stocks, bonds, mutual funds, certificates of deposit, money markets funds and trust accounts
  • The amount vested in retirement savings accounts
  • Cash value of a vested life insurance policy

    Certain assets must be “discounted” when used for reserves. Terms and conditions of liquidation may be required depending on the asset used for reserves.

    Assets Requiring Liquidation
    The following may be counted as cash assets at 100% of verified liquidated amounts:

    • Cash value of life insurance
    • Publically traded stocks
    • Bonds
    • Mutual Funds
    • U.S. Government Securities
    • Savings Bonds
    • Retirement Funds
  • Gift Funds - Primary Residence and Second Home ONLY

Maximum Loan Limit Look up for your area can be found here;

Look Up Conforming Limits For Your Area!

Fannie Mae's Requirement for 1-4 Mortgaged Properties.

Fannie Mae's Requirements for 5-10 Mortgaged Investment Properties

Freddie Mac Requirements for 1-6 Mortgaged Properties. 

The states we lend in are;

STATES WE LEND IN:

Alabama, Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming