MINIMUM DOCUMENTAION FOR FUNDING APPROVAL
1. Summary explaining loan request (email OK)
2. 1003 Loan Application
3. Borrower Authorization
4. Purchase Contract (if Purchase) and Pictures.
MAKE SENSE UNDERWRITING CRITERIA FOR LOAN APPROVAL
1. Loan to Value: Is it below 80%
2. Exit Strategy: Do you have a good plan to pay us back
3. Ability to Pay: Can the monthly payments be made
4. Use of Funds: Is it clear how the funds will be used
Residential- 75% LTV max (80% case by case)
TYPES OF PROPERTIES- Stated Income, SIVA, SISA OK
· Single Family Home (SFR) · Manufactured · Urban
· Duplex · Mobile · Rural
· Triplex · Modular · City
· 4-plex · Condo · Rehab
· California - Texas
TYPES OF BORROWERS- Stated Income, SIVA, SISA OK
· Owner or Non Owner Occupied or Investment or Second Home
· Purchase Money
· Refinance
· Cash out
· Property Listed for Sale/ REO/ Short Sale
· Foreclosure/Bankruptcy Bailouts
· Owned by Sole Proprietorship, LLC or Corporation
· Foreign Nationals OK
LOAN TERMS
· LTV up to 75% (80% ltv case-by-case)
· Loan Term: 1, 2, 3, 4, 5, 7 year; and a 15, 20, 30, 40 year take-out loan
· No Prepayment Penalty
· Interest-only Payment
· Cross Collateralize for Maximum Loan Amounts
· SIVA/SISA/No Doc
· Not FICO Driven, Self Employed OK, Bad/No Credit OK
Multi-Family & Commercial - 75% LTV Maximum
TYPES OF PROPERTIES- Stated Income, SIVA, SISA OK
· Office Buildings · Retail Centers
· Apartment Buildings · Gas Stations/Auto Centers
· Mixed-Use · Hotels/B&B/Motels
· Medical/Dental Facilities · Agricultural
· Warehouses · Manufacturing Facilities
· Restaurants · Auto Facilities
· Industrial · Leisure & Gaming
· Commercial Condos · Owner Occupied Business
· Condo Projects · Special Purpose
TYPES OF BORROWERS- Stated Income, SIVA, SISA OK
· Nationwide Owner or Non Owner Occupied
· Purchase Money
· Refinance
· Cash out
· Property Listed for Sale/ REO/ Short Sale
· Foreclosure/Bankruptcy Bailouts
· Owned by Sole Proprietorship, LLC or Corporation
· Properties in Probate/Trust or Auction
LOAN TERMS - Private Money
· LTV up to 75% (80% case-by-case)
· Loan Term: 1, 2, 3, 5, and 7 years; and a 15, 20, 30, 40 year take-out loan
· No Prepay Penalties
· Cross Collateralize for Maximum Loan Amounts
· Not FICO Driven
· DSCR: No Minimum/ Vacant OK
· No tenant OK, No Credit OK, No TI OK
Land & Construction- 65% LTV max (ARV case by case)
TYPES OF PROPERTIES- Stated Income, SIVA, SISA OK
· Spec Construction, Owner Occupied Builder, or Investor Rehab Flipper
· Residential/Multi-Family/Commercial Property unfinished or construction
· Land, Urban, Rural, Raw, Agricultural or Improved OK
TYPES OF BORROWERS- Stated Income, SIVA, SISA OK
Owner Occupied and Non-Owner Occupied
· Exit Strategy at your discretion: Refinance, Occupy or Sell the property upon completion
· Purchase Money + Construction
· Refinance + Construction
· Cash out to Construction
· Ground Up Construction
LOAN TERMS
· Construction and Rehab Loan LTV up to 55% future value
· Construction loans 1 or 2 years for construction completion
· Loan decision based on future appraised value not purchased value
· Loan decision based on the quality of the project
· Reasonable Construction Periods Hard Money Loans Only
· Flexible Disbursal Schedule
· No Prepayment Penalties
· Non-FICO driven
· INTEREST RESERVE OK
· Land Max LTV 55%
