TExas investor loans

 

*******DEC 2016 UPDATES:

December UPDATE - Some of our Texas Loan programs have updates , many of these we can fund in most states.

**80% LTV must cashflow (hybrid underwrite) Need DSCR of 1.2 (bank statements and 1 or 2 year tax returns ) no min credit 
**75% state loans with 650 – Did you know there are stated income loan levels (using property cashflow and no income (no borrower and no property income)
**Small loans to 50k are back with 630 credit and 65% LTV MAX (ltv applys to loans under 75k), rent needs to cover PITI

 

Basic guidelilnes and available loans for Investors of Texas real estate.

Rehab and Hard Money (do a "rehab to rental") (SEE HOW)

Stated "no income" loans - NO CREDIT MIN WITH 100K LOANS+

Non Recourse Loans for blanket loans and Self Directed IRA accounts- MAX 70% LTV

Consider there are 3 levels

1. no credit - pure asset backed (for long term and rental) rates start at 9%

2. (Stated Loans) : 630 credit min - light doc - "no income" - rates from 6-7.5 (up to 75% LTV)

3."light bank" - limited documentation. A review of borrowers financials are required but not undwritten to conventional debt to income (like Fannie Mae) type. These are the best deals , up to 80% LTV and rates from 5's , PROPERTY MUST CASH FLOW

SEE OUR LOAN SUBMISSION AND SUPPLEMENT- COMPLETE FOR QUICK ANSWER

 

QUICK LOAN GUIDELINES
(changing rapidly - email to confirm) 
Most States
CASHOUT – UP TO 70% LTV
PURCHASE – UP TO 80% OF PURCHASE PRICE  
  OR 70% OF "AS IS VALUE


PURCHASE AND REHAB TO 70% ARV


CROSS COLLATERALIZE OTHER PROPERTY
SHORT SALES
EVEN LONGER TERM TO 25 YEARS POSSIBLE


Geographic Area:

US - Population over 50,000

Property Type:

Residential (non-owner occupied), Commercial, Industrial, Land.

Loan Size:

$60,000 Minimum-No Lending Limit/Cap (may go lower , will not loan on property worth less than 100,000

Loan Term:

Up to 30 years
3,5,7 year arms and 30 year fixed

Interest Rate:

Interest Only-Varying depending upon LTV, Credit, Term, Etc.

Loan Origination Fee:

1-4 Point

Loan to Value:

Up to 80% on residential rehab.
(varies by property and location)
Bank statement program will go to 80% , Stated to 75%