Nationwide Mortgage
Financing Options for Investment Property Loans
- Noelle Wheeler
Bridge Loan | |
| Property Types | 2-4 Units, Agriculture, Assisted Living, Automotive, Bar, Cannabis Related, Condo, Daycare, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Office, Memory Care, Mixed use, Mobile Home Park, Modular Home, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Student Housing, Warehouse |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $200,000 |
| Loan amount Maximum | $50,000,000 |
| Terms | 1 year, 18 month, 2 year, 3 year, 4 year, 5 year, 7 year, 10 year |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Individual, Trust, Foreign Nationals |
| Cross Collateralize Blanket | Yes |
| Lien Position | 1st, 2nd |
| Intended Occupancy | Vacant, Tenant, Non-owner occupied, Owner Occupied Business |
| Recourse | Recourse and Non Recourse available |
| Updated as of | 2024-01-17 |
| Program Code | LG405 |
Rehab Loan | |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | arizona, california, colorado, connecticut, delaware, florida, georgia, kansas, maryland, massachusetts, missouri, new-jersey, north-carolina, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, washington, west-virginia |
| Loan amount Minimum | $85,000 |
| Interest Rate Minimum | 8.5% |
| Interest Rate Maximum | 13.5% |
| Points Maximum 1st TD | 2.5 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 11-15 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Fees | Underwriting |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Taking Title Personally not permitted |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Documents needed | Application, Appraisal, Bank Statements, Bank Statements - Business Account - 3 month, Credit Report, Driver's license, Entity documents for LLC, Corp or Trust, Purchase Contract |
| Intended Occupancy | Vacant, Tenant, Non-owner occupied |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse |
| Reserve Requirement | None |
| Updated as of | 2024-01-17 |
| Program Code | LG427 |
Long Term Rental Loan | |
| Property Types | 2-4 Units, Condo, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $3,000,000 |
| Interest Rate Minimum | 6.5% |
| Interest Rate Maximum | 12.75% |
| Terms | 30 year, 40 year |
| Typical Days Required to Fund | 31-40 Business days |
| Credit Score Min | 575 |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Fees | Underwriting |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Individual, Trust |
| Lien Position | 1st |
| Max Points Charge by Broker | 4 |
| Prepayment Penalty | No Prepayment Penalty, 1 year, 2 years, 3+ years, 5,4,3,2,1, 5,5,5,5,5 |
| Documents needed | Application, Appraisal, Credit Report, Driver's license, Entity documents for LLC, Corp or Trust, Lease Agreements, Mortgage Statement for Subject Property, Purchase Contract, Rent Roll |
| Intended Occupancy | Tenant |
| Special Features | Foreign National |
| Updated as of | 2024-03-14 |
| Program Code | LG429 |
Construction Loan | |
| Property Types | 2-4 Units, SFR |
| Lendding Area | arizona, california, colorado, connecticut, delaware, florida, georgia, kansas, maryland, massachusetts, missouri, new-jersey, north-carolina, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, washington, west-virginia |
| Loan amount Minimum | $85,000 |
| Interest Rate Minimum | 8.5% |
| Interest Rate Maximum | 13.5% |
| Points Maximum 1st TD | 2.5 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 11-15 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Fees | Underwriting |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Taking Title Personally not permitted |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Vacant, Tenant, Non-owner occupied |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse |
| Reserve Requirement | None |
| Updated as of | 2024-01-17 |
| Program Code | LG428 |
Second Mortgage | |
| Property Types | 2-4 Units, SFR |
| Lendding Area | california, florida, washington |
| Loan amount Minimum | $200,000 |
| Loan amount Maximum | $2,000,000 |
| Interest Rate Minimum | 11% |
| Interest Rate Maximum | 14% |
| Credit Score Min | 680 |
| Updated as of | 2024-03-14 |
| Program Code | LG487 |
Summary of all Guidelines | |
| Loan Types | Bridge Loan, Commercial Loan, Construction Loan, DSCR Loan, Hard Money Loan, Investment property Line of Credit, Rehab Loan, Second Mortgage |
| Property Types | 2-4 Units, Agriculture, Assisted Living, Automotive, Cannabis Related, Condo, Daycare, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Office, Mixed use, Mobile Home Park, Modular Home, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Warehouse |
| States Excluded | Nevada, North Dakota, South Dakota |
| Loan amount Minimum | $200,000 |
| Loan amount Maximum | $5,000,000 |
| Interest Rate Minimum | 8% |
| Interest Rate Maximum | 12% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2.5 |
| Terms | 1 year, 1.5 years, 2 years, 3 years, 5 years, 10 years, 15 years, 30 Years |
| Prepayment Penalty | No Prepayment Penalty, 6 months, 1 year, 3+ years |
| LTV Bridge | 65 |
| LTC Construction | 80 |
| ARV Rehab & Construction | 75 |
| LTC Rehab | 80 |
| LTV Long Term Rental | 80 |
| Intended Occupancy | Vacant, Tenant |
| Percentage of Budget Financed - Rehab | 100 |
| LTC Percentage of Budget Financed | 100 |
| NMLS ID | 32417 |
| License Number | CA DRE 01247594, FL Mtg Brkr #MBR2347, WA Mtg Brkr #MB-32417 |
Nationwide Mortgage is located in San Jose, CA. They offer financing for Bridge Loans, Construction Loans, Hard Money Loans, Investment property Line of Credit, Commercial Loans, DSCR Loans, Rehab Loans and Second Mortgages. The property type they primarily lend against is 2-4 Units, Agriculture, Assisted Living, Automotive, Cannabis Related, Condo, Daycare, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Office, Mobile Home Park, Modular Home, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Warehouse, Mixed use and Senior. Their minimum loan amount is $200,000. Their maximum loan amount is $5,000,000. Maximum duration of 1 year;1.5 years;2 years;3 years;5 years;10 years;15 years;30 Years. Although rates can change they are typically lending at a minimum rate of 8%. Maximum interest rate of 12%. Points charged are deal specific, but historically have charged a minimum of 1. Maximum points charged are 2.5.
These descriptions are limited information and meant for general reference purposes.
1963 O'Toole Way, Suite 200
San Jose,
CA
95131
This web page is regarding investment properties only. Non consumer owner occupied, properties loans are offered here. We are just required to provide our licensing information. N A Nationwide Mortgage, a California Corporation is located at 1963 O’Toole Way, Suite 200, San Jose, CA 95131. Unique Identifier NMLS ID #32417 www.nmlsconsumeraccess.org. N A Nationwide Mortgage Service Mark @1998. All rights reserved. California – DRE Real Estate Corporation License Mortgage Loan Originator (MLO) License Endorsement, #01247594, Florida Mortgage Broker License #MBR2347. Washington Mortgage Broker License #MB-32417.
