Assisted Living purchase 75% LTV, 90% CLTV
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  1. #1
    Senior Member Reputation points: 78900 Olderguy's Avatar
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    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 situation
    Last edited by Olderguy; 07-29-2024 at 10:47 PM.
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