All Forum Posts by: Shane Baganz

Does this work for you?

Fico – Typically 650+. Lender does work with credit challenged borrowers as long as the credit issues have been resolved and the story makes sense!

Loan Terms – 25-30 year amortizations. 3, 5, 7, and 10 fixed options

Loan Size – $300K to $30M

Max LTV – Up to 75%

Debt Service Ratio – 1.25+

Interest Rate – 4.00%+

Property Types – Stabilized MF properties 5+ units, mixed use, retail, industrial, office, self-storage, warehouse, mobile home parks, student & senior housing (without an assisted living component).

Pre-Payment Penalty – Step Down Prepay, Flat Prepay, and Yield Maintenance. Typically step-down prepayment penalties during the fixed rate portion of the loan.

Use of Funds -Purchase, Refinance, Cash-Out Refinance

Territory – Coastal Southern California, San Jose, Salt Lake City, Chicago, San Francisco Bay Area, Boston, Washington DC, Philadelphia, Seattle, Minneapolis/St. Paul, Denver, Portland, NY Metro, New Jersey, Miami, San Antonio, Austin

Special – Work with Foreign nationals as well but at a lower LTV. Non-recourse loans are offered at a 50% LTV. No Seasoning on properties income! This means the property could recently be producing stabilized income and the lender will lend off of that- they do not require the property has been producing that income for 1-2 years in order to lend!

Pre-Qualify Now

or call Shane at: 262-292-1710

Oh gosh. There are so many creative ways to get the cash. The best ways are to find those who either: A: want to invest long term-They put the 20% down, you go 50/50 on the ownership. B: want to invest short term-They put the 20% down, you pay them a percentage, say 7% on their money with a balloon in 3/5/7/10 years, etc *you can refi, find another investor, sell, etc... whatever you like at that time. I'm just throwing variables out there. But, if the deal is strong, you'll find partners for almost anything. Try your local REIA for contacts.

650+ Fico

Up to 30 year amnortizations....

Click here for further details!  ----->  No Seasoning on down money!

Contact Shane:  262-292-1710

That was just awesome.  I have several residential and commercial properties.

I have never tried this approach.  Thanks for teaching me!

-Shane

Fico – 500+. Yes the lender goes down to 500!

Loan Terms – 12 months, interest only

Loan Size – $75K to $1 Million

Max LTC – Lender will finance up to 90% of the purchase price of the property and 100% of the construction (done in draws).

Interest Rate – 7-12%; Interest rate is determined by investor’s experience.

Property Types – Only 1-4 unit investment properties! This includes Single Family Homes, 2-units, 3-units, 4-units, condos and town homes.

Pre-Payment Penalty – None!

Use of Funds – Purchase, Refinance, Cash-Out Refinance & Rehab

Asset verification – Depends on borrower’s experience. 1-3 months of bank statements.

Points – Loan cannot have more than 4 points associated with it (that is a combined 4 points from the broker and lender!)

Lending Territory – CT, CO, FL, GA, IL, MD, MI, MO, OH, PA, SC, TN, TX, VA, WA & WV.

Closing Time Frame – 15 days. Lender typically just orders a desktop BPO which costs $299 and does not always do a full appraisal. This is how the deal is able to close so fast!

Special – NO JUNK FEES!

Pre-Qualify Now

or Call Shane at:  262-292-1710

Contact Us

Thanks for sharing. That's incredibly motivating! I've not tried them before. Would you care sharing your verbiage in the letter?

I provide the tenants an option. The rent is $1200. If you would like to mow the lawn and shovel the snow yourself, the rent would be reduced by $100 per month. (The property is always well groomed) If it is not, the rent is simply the full rental amount they agreed upon ($1200) and I pay the service. Pretty simple.

– Self employed but do not show enough income to qualify with a traditional bank?

– A real estate investor who has too many mortgages to qualify with a traditional bank?

– Credit is just a bit too low to qualify with a traditional bank?

– Do not want to pay the hard money rates and fees?

– Need a quick close as opposed to the long drawn out process that most banks put borrowers through?

NO INCOME VERIFICATION LOANS!

Investment SFR's, Condo's & 2-4 units.

Multi-Family, Mixed Use, Office, Retail, Warehouse, Self-Storage, Auto Service

Refinance, Refi cash out & Purchase

Up to 75% LTV depending on property type & location

630 Minimum Credit Score Required

W-2 or self employed

Standard 30 Year Term (3, 5, 7 and 8 year arm options)

$75k-$5M loan amount

Between traditional banks and hard money rates

Pre-Qualify Now

or call Shane at:  262-292-1710

Low Doc/Stated Program

No Income Stated or Verified

N/O/O Only (SFR, Condo/Townhouse, 2-4 Units, Mixed-use, Office, Retail)

$100,000 – $2,000,000 Loan Amounts (see our Hard Money Product for larger loans)

30 year amortization – 3, 5 or 7 year Fixed Term available

Interest rates range from 7-10% depending on borrowers fico and LTV

Prepayment Penalty Ranging from 1- 3 years

Up to 75% Purchase with a 650 FICO

Up to 70% Refinance with a 650 FICO

FICO down to 500 with LTV Restrictions

Interest Only Options Available

No Reserves Required

1st time Home Buyer OR Borrower that Rents their Primary – OK

Lender allows Gift of Funds and Non-Seasoned Assets

Foreign National Program:

NO Proof of Income Necessary.

NO SS Necessary.

NO Citizenship Necessary.

NO Green Card Necessary.

Borrower MUST have established U.S. Credit

Must be N/O/O (Non-owner occupied)

Money in Foreign Banks or Offshore Accounts OK.

70% LTV Financing Available Purchases & N/O/O

65% LTV Financing Available Refinance – Stated.

65% LTV on O/O with ITIN# and proof of ability to repay.

Only Requires a Passport.

Loans from $100,000 to $5 Million (exceptions considered on higher loan amounts).

Eligible Property Types: Residential SFR, Condo 2-4 Units, Non Warrantable Condos and Condotels OK, Multi-Family, Mixed Use, Office & Retail

Hard Money Bridge Product

SFR, Condo/Townhomes, 2-4 units, Multi-family, Mixed Use, Office & Retail

N/O/O only (Residential properties)

Purchase and Refinance

Up to 70% LTV with a 650 FICO+

Loans from $50,000 to $10,000,000

FICO’s as low as sub 500

Terms 2 year I/O or a 30 due in 5

Rates from 8-11% depending on borrowers fico and LTV

NO DSCR calculations for all residential properties!

NO Income requirements!

NO Impounds required!

Pre-Qualify Now

or call Shane at 262-292-1710

I would also suggest connecting with other investors who invest in other states. They will provide healthy insights into management concerns as well how to protect yourself best. I've seen many burned because they "did not know what they didn't know". BP is a strong community to learn from.