All Forum Posts by: Jerry Padilla

@Shawn Couch 

We absolutely lend there as well! 

Including... But not limited to some of these locations..... Bay Area, San Francisco, Sacramento, San Diego, San Jose, Sunnyvale, Los Angeles, LA, Fresno, Long Beach, Santa Ana, Stockton,  Anaheim, Riverside, Irvine, Fremont, Cambridge, Boston, Orange County, Portland, NYC, Westchester county. 

NOW AVAILABLE TO APPLY DIRECTLY ONLINE!!!!! FROM MY WEBSITE!!!

All loans must be in an individual name at closing, not an LLC.

Investor loans - Financing for up to 10 investment properties!

Conventional or Refinance or

Cash Out (for the first 4 properties)

Commitments 3-5 days from submission Purchase closings in as little as 30 days

Credit scores down to 600 on FHA/VA/USDA loans - primary residence only

Conventional financing credit score 620 (first four property's) 720 (property's 5-10)

National lender!

Streamline refinance programs for FHA/VA/Conventional - Save money with less documentation

Low rates & Low closing costs

I am available extended hours

Opportunity to increase your business to have more capital available for purchasing and rehabbing

Lender credit available for purchases

No minimum trade-lines....two scores and an automated "YES"

@Joshua Springer 

Yes. The LLC will be retraced back to you along with the mortgages as well.

@Felipe A. 

It is a Fannie Mae standard to wait the 6 months if you to pull money out based on ARV.

Connect with

@James Wise

And 

@Account Closed

They are great to work with and very knowledgable on the area. They will give you the best advice.

@Heather Takle

Are you the veteran? If you are the veteran than you can be solely on the VA loan and as long as you are not on the deed or loans for the other properties, your joint tax returns don't disqualify you. If your husband is the veteran..... He needs to be on the loan.

@Heather W. and @Cal C.

@Jon Holdman is correct. He is very knowledgable and an expert in the financing field as well. 

Portfolio or conventional or hard money or private money....... Every residential loan counts - even a blanket mortgage - counts for as many mortgages as properties that is is covering for residential. 

@Felipe A.

• The typical cash out financing is done after 6 months of owning the property, based on ARV and available for mortgages #1-4. Please see delayed financing for less than 6 months after closing.
• On a primary residence you can pull out up to 80% LTV on a SFR and up to 75% LTV on 2-4 unit multi-families.
• On an investment property; A SFR if you have #1-4 mortgages you can pull out up to 75% of the equity and a duplex is up to 70% equity.
• On an investment property; If you have #5-10 mortgages you can only pull out money in the first 6 months (delayed financing) that you own the property, if you didn't originally get a mortgage on the property. As long as the value is there (on a SFR 70% LTV and duplex 65% LTV) You can take out up to the purchase price plus closing costs on the property.
• If you are willing to pay the fees and go through two closings.... You can take out private or hard money on free and clear properties #5-10 and do a rate and term refinance with conventional to pull money out on them.

http://www.biggerpockets.com/blogs/5110/blog_posts/42766-all-about-conventional-cashing-out-on-those-properties-1-10

@Oscar Prado 

Here is some basics on conventional financing;

http://www.biggerpockets.com/blogs/5110/blog_posts...

Were you thinking of owner occupying? You could go FHA that route.

Great posts!