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07-20-2023, 12:28 PM #1
permanent real estate financing 600 Fico
New program that just came out....FYI.
Investment Purchase & Refinances
600 - 649 MINIMUM CREDIT SCORE ALLOWED – Up to 65% LTV
30 Year Fixed & 5 -10 Year Interest Only Program Also Available
75% LTV CASH OUT - 650 Credit Scores and UP
VACANT Properties OK
Interest Rates Starting at 8.74%
SFR / 2F-4F / Multi Fam / Mixed Use / Office / Retail / Warehouse / Self Storage / Automotive / Day Care / Restaurants
$75,000 - $5,000,000
Up to 75% LTV* / 90% CLTV* – AS IS ONLY
Up to 65% LTV* / 90% CLTV* with scores below 650 – AS IS ONLY
NO Payment Reserves Required
NO Income Documentation Required - NoDoc loan
NO DSCR Requirements
Minimum 1 Year Prepayment Penalty
Nationwide – NO RURAL PROPERTIES
Typically these have 5 year prepayment penalty - 5,4,3,2,1.
The buy down to 1 year is at 1% cost.
2% lender orgination fee
I usually charge 3 broker points up to $1M and 2% over $1M
I split that with the broker.
Reach out if you have questions or need help.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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