Sub Prime Loans

Sub Prime Loans

Area of Lending:
CA, AZ, OR, ID, CO, UT & TX only. (No O/O refinances in TX)

Property Types:

  • SFR’s
  • Condos
  • Townhouses
  • 2 to 4 Units

Property Condition:
Property must show “Pride of Ownership”
See Hard Money product for properties that have deferred maintenance.

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Loan Terms:
All loans are 5 year interim fixed variable rate 30 year fully amortized product.
Index: 6 month Libor

Margin: 7.95%

Caps 2/1/4
Floor = Start Rate

Loan Amounts: $50,000-$750,000
Debt To Income ”DTI”: Gross Monthly Income
Max DTI:

  • Under $2,000 35% $2,001 –
  • $2,500 40% $2,501
  • $4,000 45%
  • Over $4,000 50%

Income Documentation:

  • Full Doc – W – 2 & Paystub, 1040’s or 24 months Personal BS or Asset depletion
  • Alt Doc 12 months personal bank statement, Asset depletion, 101% of loan amount.

Down Payments:
Down needs to be Sourced & Seasoned for 60 days

[m id=”tabs” topic=”Sub Prime”] [learn_more caption=”Lending Territories”] [m id=”lending-territories” service=”Sub Prime Financing”][/learn_more]