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07-29-2024, 10:43 PM #1
Assisted Living purchase 75% LTV, 90% CLTV
Not many lenders are doing these right now.
I have serveral of these in underwriting....
As long as these are SFRs being used for assisted living:
Purchase
SFR
NoDoc - no income documentation
75% LTV / 90% CLTV (yes - can do a seller carryback of 15%)
10.24% Interest Only
2% Origination Fee
3% Broker Fee - I split the commission on this.
10/20 - fixed for 10 yrs then 20 yr full am
Prepay 1yr@5% with 1.5% buydown fee or 5yr 5/4/3/2/1 with no fee
Appraisals to be ordered by Lender and runs around $850
650 Fico, can do lower Fico, but LTV drops....can do some adjustments and waivers depending on the situationLast edited by Olderguy; 07-29-2024 at 10:47 PM.
Steve Benjamin
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Irvine, CA 92620
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https://probizloans.net/
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