Want to buy home but do not have sufficient personal income to qualify?
No problem, we can obtain financing for buying Condo and 1-4 family without borrower having to qualify based upon sufficient personal income.
Here are some of the key details:
- Up to 75% Loan to Value for Condo and 1 Unit.
- Up to 70% Loan to Value for 2 and 3 Unit.
- Up to 65% Loan to Value for 4 Unit.
- Loan qualified based upon Rental Income and Monthly Mortgage Payment (PITI) of the subject property.
- No other debts are used in the qualification.
- Only Investment Property considered for lending.
- All Loans are manually underwritten.
- Escrows: Taxes and insurance escrows are required.
- Reserves: 18 months post closing PITI reserves are requires.
- Seasoning of Funds: All funds used for down payment, closing costs and reserves must be seasoned, supported by 3 months bank statements. No gifs are allowed.
