Eligible Properties:

Time to close: 1 week after appraisal is received—typically 14 to 21 days from application

Preferred Loan size:  $500,000 to $5,000,000

Loan to Value (LTV):  Up to 60% LTV is True Asset Based Loan

Purchase to 75% LTV *

Refinance to 70% LTV *

Documentation:   Up to 60% LTV is No Income Verified/ No Income Stated/ No DSCR Calculated

*Above 60.1% LTV to max LTV require limited additional documentation

Loan Term: Up to 36 months (Standard) with option to extend to 30 Year Loan

Credit Score: A 650+ credit score is preferred. Scores down to 550+ are allowed with risk-adjusted pricing. The credit score is one of the factors in determining loan rate. Lending decisions are asset-based, not credit driven.

Interest Rate: Typically 6.99% to 9.99%, interest only. Rate is risk adjusted depending upon collateral, loan size, credit score, market size and loan structure.

Lien Position: First Mortgage or Deed of Trust

Origination Fees: Starting at 1%

Other Terms:

• All federal and state tax liens and judgements must be paid through closing.
• All income tax liens and judgements must be paid through closing if they affect title.
• No source of seasoning of down payment.
• Unlimited cash out for business purposes.
• No upfront fees. (Borrower only pays for the appraisal after formal LOI is issued)
• No financials requested. (True asset-based commercial loan up to 60% LTV)
• Lending Area: Nationwide with a preference for city/towns with greater than 25,000+ populations
• Transaction types include purchase and refinance with unlimited cash out.
• Ancillary fees paid at closing: $1,995 underwriting and $495 doc-prep fee.
• Property Condition: Must have minimum deferred maintenance. If property has significant deferred maintenance, may require escrow for renovations.
• No open bankruptcy and all mortgages on credit report must be current at time of submission