Solution for Investors with Rental Income Shortage
Highlights
- No Personal Income Needed to Qualify
- Qualifying Using Rental Income + Asset Utilization = $$$
- Max loan amount $2,500,000
- 80% LTV Max
- Minimum DSCR: >=0.75 and under.99 without assets. With assets factored in: >=1.15
- Assets Used to Qualify: 401K, retirement accounts, cash in the bank, stocks, bonds, IRAs, mutual funds
- 2-4 Unit properties and Condominiums permitted
- 75% LTV for Rate & Term
- 70% LTV for Cash-Out Refi
- Minimum FICO 680 FICO
- Gift Funds allowed
- No limit on Financed Properties
- Cash-Out can be used as reserves
No License, No Problem
With our Business Purpose loans you don’t need to be licensed in certain states where we are licensed. We can fund with our Giant Lending Mortgage License.
States may have other or additional requirements, check with your Account Executive.
What's a Business Purpose Loan?
A business purpose loan is used to purchase an investment property or a cash out refinance where the funds are used for any business purpose. The property collateralized can be non-owner occupied if the funds are used for business. You can work directly with real estate investors and business owners who are looking for this type of loan to either purchase an investment property or looking for funds to enhance their current one.