Private Lender - Buy & Hold Loans - 30 Year Amortization in Monroe, Michigan For Sale

PRIVATE LENDER - BUY & HOLD LOANS - 30 YEAR AMORTIZATION
www.CloseMyLoan.org
Property Type: SFRs, 2-4 plexes, townhome, PUDs
Loan Structure: 5/1 ARM, 30 year amortization
Transaction Type: Purchase or refinance
Minimum FICO: 620
Interest Rates: 6% to 9% (varies based on LTV and FICO)
Personal DTI: Not required
Origination Points: Not to exceed 4%
Property DTI: Up to 85%*
Junk Fees: None, legitimate 3rd party fees charged
at cost with no mark-ups
Reserves: 6 months PITIA for subject,
3 months PITIA for other financed properties**
Loan Amount: Up to $1,000,000 ($50,000 minimum)
Rental Experience: Not required
Loan-to-Value: Up to 75%
Bankruptcies: None in past 3 years
Closing Process: 14 days from completed app, even quicker for repeat borrowers
Foreclosures: None in past 2 years
Loan Term: 30 years
Prepayment Penalty: 4 years declining (3%/3%/2%/2%)
Note: Loan approval is subject to program guidelines. Interest rate and program terms are subject to change. Final terms vary depending on the property and borrowing entity.
*Property DTI is calculated as PITIA divided by Gross Rental Income.
**Can use brokerage/retirement accounts. Reserves required are in addition to funds needed to close loan in case of purchase.
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