|
“Stated
Income/Stated Asset” Multi-Family and Commercial Property Program
– No tax
returns
|
Starting Interest Rate |
8.25% |
|
Loan
amounts |
$75,000 to $1,500,000 |
|
Transaction
Types |
“Non Owner Occupied”
only; purchase, refinance, cash-out refinance |
|
Documentation |
Stated Income/Stated
Asset (NO tax returns) |
|
Minimum
Credit Score |
Generally 600 |
|
Credit
History |
Good |
|
LTV |
80% purchase, 75%
refinance for most transactions |
|
Program
Structure |
5 Year Fixed then 25
Year ARM |
|
Prepayment
Penalty |
Yes (No lockout) |
|
Personal
Recourse |
Yes |
|
Property
Condition |
Fair to excellent |
|
Property
Types |
Apartments, Mixed Use,
Office/Retail, Restaurant/Bar, Strip Malls, Hotels/Motels,
B&B, Rooming Houses,
Funeral Homes, Warehouse/Light Industrial |
|
Regions |
AZ, CO, CT, DC, DE, FL, G,
IL, IN, MA, MD, ME, MI, MN, MO, NC,
NH, NM, NV, NY, OH, PA, SC, UT, VA |
Restrictions apply. Rates and terms are subject to
change.
|
