- Qualify based on cash flow of the subject property at I/O payment calculation
- Seasoned ownership/management experience not required if DSCR = 1.15
- No vacancy factor or DTI calculated, DSCR = 1.0*
- No income | No employment verification | No tax returns | No 4506T
- Business funds allowed for down payment, closing costs, & reserves for
- Loan amounts up to $2.5MM | Cash out up to $2MM
- Short-term rental properties and gift funds allowed
- Up to 25% variance allowed between Lease Agreement & 1007**
- Only 1 appraisal required when loan amount is ≤ $1.5MM (LTV ≤ 75%)
- Vest in an LLC
- Up to 80% LTV
- Borrower can own unlimited financed properties
- Seasoned ownership/management experience not required if DSCR = 1.25
Multiple term options:
- ARM***: 5/1, 7/1, 10/1
- Fixed: 15, 30
A borrower with a 25% or greater ownership interest in a business is considered self-employed.
All states (including DC) are eligible except DE, ME, MA, WY.
*DSCR = 1.15 for Premier
**Up to 10% without proof or 25% with most recent 3 month rent receipt verification
***Interest only option available on all ARMs. No I/O in Illinois.