Specialty Loan Products

Hope everyone’s summer has gotten off to an amazing start! As we get into a market that is thriving, it will be interesting to see how the next few years play out. Since this is an organization built on investors, I figured it was an appropriate time to go over creative loan products that we have in the traditional lending world. Here is a brief overview of a few product that may spark your interest. Let me know if you have any questions at all in relation to these programs!

Investor Cash Flow – Primarily for buy and hold borrowers

  • No personal income used to qualify
  • Qualification based on property cash flow
  • 2 years seasoning for foreclosure, short sale, bankruptcy or deedin-lieu
  • Credit scores down to 660
  • Rates starting in the 6’s
  • Up to 80% LTV
  • No DTI restrictions
  • Must have current mortgage
  • 1-4 units and condos
  • No limit on number of properties financed (5 with AOMS)
  • Loans up to $1 million
  • Seller concessions to 2%
  • 7/1 ARM Bank Statement Loan (Personal or Business)
  • No tax returns required
  • 12 month personal bank statements
  • 24 month business bank statements
  • Loans up to $3 million
  • Credit scores down to 600
  • Rates starting in the 4’s
  • Up to 90% LTV on Personal and Business with no MI
  • DTI up to 50% considered
  • Owner-occupied, 2nd homes and investment properties
  • 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Non-warrantable condos considered
  • Jumbo loans down to 600 score
  • 5/1 ARM or 30-year fixed
  • No pre-payment penalty for owner-occ and 2nd homes
  • Seller concessions to 6% (2% for investment)
  • 2 year self-employed required. Let me know if you have any questions and have a great rest of your month. QUICK TIPS:
  • Don’t open new debts while in contract
  • Don’t quit your job
  • Don’t deposit substantial amounts of cash into your bank account.
  • Disclose all debts

Let me know if you have any questions and have a great rest of your month!

by Andrew Augustyniak
Branch Manager
Prime Lending
NMLS: 911628
Office: 602-601-3863
Mobile: 480-735-4095
Fax: 866-908-2760
1820 East Ray Road, Suite A114
Chandler, AZ 85225

For more information regarding real estate investing, visit the AZREIA (Arizona Real Estate Investors Association) website @ http://www.azreia.org