Long Term Commercial Loan
DSCR Investor Residential Lite Doc - LG302
DSCR Investor Residential Lite Doc - LG302
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.