Long Term Commercial Loan
DSCR Investor Residential Lite Doc - LG302
DSCR Investor Residential Lite Doc - LG302
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Summary of all Guidelines | |
Loan Types | Commercial Loan |
Property Types | 2-4 Units, Mixed use, Multi Family, SFR |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $100,000 |
Loan amount Maximum | $5,000,000 |
Terms | 30 year, 15 year, 5 / 6 month ARM, 7 / 6 month ARM, 10 / 6 month ARM |
Typical Days Required to Fund | 11-15 Business days |
Credit Score Min | 640 |
Lien Position | 1st |
Max Points Charge by Broker | 5 |
Prepayment Penalty | No Prepayment Penalty, 5,4,3,2,1, 5,5,5,5,5, 1 year, 2 years, 3+ years |
Documents needed | Tax Returns - Business - 2 years |
Intended Occupancy | Tenant, Vacant |
Reserve Requirement | 3 months |
General Pricing or Guideline info | Minimum loan size for a 5-unit is $350K with 70% being the max LTV. Additionally, our minimum square footage for each unit is 400. |
Updated as of | 2024-02-13 |
Program Code | LG302 |
Minimum loan size for a 5-unit is $350K with 70% being the max LTV.
Additionally, our minimum square footage for each unit is 400.
These descriptions are limited information and meant for general reference purposes.![](https://lendding.com/wp-content/uploads/2023/05/lendding-loan-info.png)