All Forum Posts by: Robert Grant
Robert Grant has started 12 posts and replied 86 times.
Post: DIRECT LENDER! BUY & HOLD Investors - NO INCOME DOC LOAN @ 7%
- Lender
- Los Angeles, CA
- Posts 98
- Votes 17
Velocity is a nationwide wholesale lender specializing in a true No Income/No Asset product for non-owner SFR's, N/O/O or O/O 2-4 Unit Investment properties, 5+ Multifamily, Mixed-use, and traditional Commercial properties (Office, Retail, Warehouse, Self-Storage, Automotive (no gas stations). Here are a few program highlights:
NO INCOME VERIFIED
NO EMPLOYMENT VERIFICATION
NO TAX RETURNS
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 & NO PERSONAL FINANCIALS
PROGRAMS FOR FOREIGN NATIONALS
OKAY FOR WAGE EARNERS TOO
CAN FINANCE UP TO 10 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'sor COMMERCIAL LOANS UNDER $500k
6.75% Floor Rate, No Upfront Points, Fully Amortized Terms
NOW OFFERING BROKER REBATES!!!! MAKE UP TO 5PTS ON EVERY LOAN!!!
https://www.youtube.com/watch?v=UhvmGUViNxg
Post: Low/No Doc Heloc
- Lender
- Los Angeles, CA
- Posts 98
- Votes 17
HI Evan,
They are certainly available, just depends where the property is located. Where is the SP located (city/state)? Maybe I can help..
Best,
Robert
Post: Seeking Private and/or Hard Money
- Lender
- Los Angeles, CA
- Posts 98
- Votes 17
Hi Rob,
Feel free to email me directly (email in my signature). Let's discuss further....
All my best,
Robert
Post: No Income Doc loans at 7.49% at Par, 30yr Amo, No Points!
- Lender
- Los Angeles, CA
- Posts 98
- Votes 17
Eric - We are more suitable for a Buy & Hold scenario, since we don't go off of ARV (As-is only), and the property has to be habitable with no heath/safety issues. Foreclosures have to be seasoned 2yrs, unless it's a commercial property at 50%LTV or less.
Jason - our minimum loan amount is $75k, so unfortunately we wouldn't be able to help on this deal. Sorry brother
Eddie - We do lend in NY. Min loan amount is $75k (70%LTV Max) which means property would have to appraise for at least $105k in order for us to do the deal. Let me know if you have any other questions.
Thanks gentlemen!
Post: No Income Doc loans at 7.49% at Par, 30yr Amo, No Points!
- Lender
- Los Angeles, CA
- Posts 98
- Votes 17
We only offer two terms: 3yr & 8yr Fixed, Amortized over 30. After the fixed period, it converts to an adjustable every 6mos. Prime Index + 4% (caps are 2/1/6)
Post: No Income Doc loans at 7.49% at Par, 30yr Amo, No Points!
- Lender
- Los Angeles, CA
- Posts 98
- Votes 17
Velocity is a nationwide wholesale lender specializing in a true No Income/No Asset product for non-owner SFR's, N/O/O or O/O 2-4 Unit Investment properties, 5+ Multifamily, Mixed-use, and traditional Commercial properties (Office, Retail, Warehouse, Self-Storage, Automotive (no gas stations). Here are a few program highlights:
NO INCOME VERIFIED
NO EMPLOYMENT VERIFICATION
NO TAX RETURNS
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 & NO PERSONAL FINANCIALS
PROGRAMS FOR FOREIGN NATIONALS
OKAY FOR WAGE EARNERS TOO
CAN FINANCE UP TO 10 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'sor COMMERCIAL LOANS UNDER $500k
6.75% Floor Rate, No Upfront Points, Fully Amortized Terms
NOW OFFERING BROKER REBATES!!!! WE PAY UP TO 5PTS ON EVERY DEAL!!!
Contact me today with your No Income Doc Scenario!!!!
All my best,
Robert
Robert Grant
National Account Executive
Velocity Mortgage Capital