F.A.Q

What is an Executive Summary?
A professional presentation and summarization of the project.

What is a Financing Request?
A break down on how funds will be used towards the project.

What is a Proforma?
Base on current cashflow and market, estimate the future projection of the net operating income statement for the next 12 months to 5 years of the property.

What is a Debt service coverage ratio, DSCR/DCR?
Lenders typically approve properties with 1.2 DSCR. A 1.0 DSCR. This means the net annual income of the property after all expenses is divided by the annual property's mortgage payments is a 1 to 1 ratio; break even or negative. Any DSCR below 1.0 means the client is paying out their pocket, losing money to keep the property afloat. Hence, 1.20 DSCR translates into an estimate of 20% profit over the annual mortgage payments. On rare occasion we can go as low as 0.85 yet the client must have valid reasons and plenty of assets to support the purchase.

I do not want to send all these forms right now / I want to talk someone before I fill out these forms:
We appreciate your interest, please send a Basic Overview first. We understand you might not have all answers below. Fill in as much as you can:

  • Type of property of interest
  • Market Value
  • Sales Price
  • Loan Amount / Down Payment
  • Show Full Doc. or Not disclose Personal Income
  • Your most recent credit scores
  • What are you trying to do? Be direct, one question after the next, even if it's 20 questions

I have a project and want rates and scenarios.
At minimal, send in a:
    1. Fully completed loan application
    2. Executive summary
    3. Credit report (30 days old max)

We are in the business of closing loans for serious buyers.

Can a seller 2nd work?
Depending on our lenders, we can take a seller second and also combine it with the structured loan.

What is the difference in a full documentation loan and stated income loan?
Full Doc: Show income and 3 years tax return or 2 years tax
Higher LTV and better interest rates.
Stated Income: No income disclosure
Much lower LTV and higher interest rates
 

Can you perform refinances and cashout refinances?
Yes

What is the longest amortization do you have?
Up to 40 years amortization on a case by case basis.