TExas investor loans

 

*******DEC 2017 UPDATES:

December UPDATE - Some of our Texas Loan programs have updates , many of these we can fund in most states.

**80% LTV must cashflow and Full income documentation - purchase only - (we dont know of 80% cashout loans - anywhere)
**75% stated loans - Purchase and Cashout - (for cashout property must DSCR 1.2 +
**Small loans to 50k are back with 630 credit and 65% LTV MAX (ltv applys to loans under 75k), rent needs to cover PITI

70% LTV - stated and no ratio (meaning - no income and no rental analysis - no min DSCR)

 

SEE BELOW- MISC PROGRAMS FOR TEXAS INVESTORS AND LANDLORDS

Rates start in mid 6 's for our Non Conventional and Portfolio type loans

Rehab and Hard Money (do a "rehab to rental") (SEE HOW)

ASSET Based - Hard Money loans 70% LTV

Non Recourse Loans for blanket loans and Self Directed IRA accounts- MAX 70% LTV

Consider there are 3 levels of non conventional mortgages for investors:

1. no income or rent - heavey underwrite on property value(for long term and rental) rates start at 7%. These loans are very good for higher value properties that will not meet cashflow requiments or maybe something that borrower only needs 1- 3 years. Terms range from 1 year to 30 years.

2. (Stated Loans) : 630 credit min - light doc - "no income" on borrower but income from property must cashflow - rates from 6-7.5 (up to 75% LTV) - The advantage is full term fixed on loans on the limited (stated) doc products, and 24 month bank statement loans.

3."light bank" - limited documentation. A review of borrowers financials are required but not undwritten to conventional debt to income (like Fannie Mae) type. These are the best deals , up to 80% LTV and rates from 5's , PROPERTY MUST CASH FLOW (borrower will provide tax returns and/or 24 months of bank statements. Again, the advantage is full 30 year fixed terms.

SEE OUR LOAN SUBMISSION AND SUPPLEMENT- COMPLETE FOR QUICK ANSWER

 

QUICK LOAN GUIDELINES
(changing rapidly - email to confirm) 
Most States
CASHOUT – UP TO 70% LTV
PURCHASE – UP TO 80% OF PURCHASE PRICE  
  OR 70% OF "AS IS VALUE


PURCHASE AND REHAB TO 70% ARV


CROSS COLLATERALIZE OTHER PROPERTY
SHORT SALES
EVEN LONGER TERM TO 25 YEARS POSSIBLE

QUICK MATRIX - PROGRAMS MAY VARY BUT THIS IS A GOOD BASIC GUIDE


Geographic Area:

US - Population over 50,000

Property Type:

Residential (non-owner occupied), Commercial, Industrial, Land.

Loan Size:

$60,000 Minimum-No Lending Limit/Cap (may go lower , will not loan on property worth less than 100,000 (FOR LONG TERM LOANS)

Loan Term:

Up to 30 years
3,5,7 year arms and 30 year fixed

Interest Rate:

FULLY AMORTIZED AND IInterest Only-Varying depending upon LTV, Credit, Term, Etc.

Loan Origination Fee:

1-4 Point - CREDIT, LOAN SIZE, LTV ALL FACTORS

Loan to Value:

Up to 80% on residential rehab.
(varies by property and location)
Bank statement program will go to 80% , Stated to 75%