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KHufford
6434 Posts |
 Posted - 04/07/2008 : 3:33:15 PM
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I know this is somewhat announcement like, sorry. But I see these posted VERY often with little or no responses. Here are a few programs for those types, especially SIVA, which most banks cannot do on these huge loan amounts.
I see these posted all the time and figured I would just post the program here for you guys, if you need help on a super jumbo deal we can do these: 2 options below
****A paper Credit program
General guidelines for Residential Lending in the $3MM to $45MM range, including Purchase, Refi and Construction financing:
- Mega-Jumbo Residential loans available to $45,000,000
- Primary or 2nd homes
- NO investment properties, NO spec homes
- 5, 10 or 30 year fixed rate loans
- Interest rates are in the 6.5% to 7.5% range
- Interest Only is available
- Full Doc or Stated programs
- Full Doc max DTI is 45%
- 90% LTV Full Doc available with a 720 FICO
- 75% - 80% LTV Stated Income available with a 720 FICO and strong assets
- Financially strong borrowers below a 720 FICO will be considered
Additional Construction Financing Guidelines:
- Full doc only - Max DTI 45%
- NO investment properties, NO spec homes
- Will provide up to 24 month locks
Full Doc rates are at the lower end of the scale, and Stated at the higher. This is private lending, not the typical Wall Street lending. There is no rate sheet. Everything is underwritten on an individual level. 90% Loans are done as an 80/10.
******No Credit Score requirements Program
Trophy Residential Parameters
Interest Rate: Starting at 9.99%
Term: 30 Years, Amortized over 30 Years
Geographic Location: Nationwide
Property Types: Owner Occupied and Investment Single Family Residential
Loan Amount: $1,000,000 - $30,000,000+, smaller loan amounts on case by case basis
Amortization: Fully Amortized
Loan to Value: up to 70% (cross collateralization considered for higher LTV's)
Origination Fee: 3%
Timeframe As quick as 10 days
Prepay: Negotiable
Must show ability to service debt, bank statements or tax returns accepted. We are flexible with the client on this issue.
There are no fico minimum requirements.
There you go...thanks, let me know if I can help
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jscorbett
4015 Posts |
Posted - 04/07/2008 : 3:37:50 PM
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| Can you do program 1 with a Condotel ? |
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KHufford
6434 Posts |
Posted - 04/07/2008 : 5:33:21 PM
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quote:
Originally posted by jscorbett
Can you do program 1 with a Condotel ?
Good question, we always just do SFR's....I would think if the value is good we can, but let me find out for sure, that may be a nice niche.
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mantixmortgage
2767 Posts |
Posted - 04/07/2008 : 5:37:22 PM
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| interesting stuff |
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jscorbett
4015 Posts |
Posted - 04/08/2008 : 06:17:14 AM
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| Please let me know , this client is only looking for 75%, Full Doc, great income and assets. |
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jscorbett
4015 Posts |
Posted - 04/08/2008 : 12:11:08 PM
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| Kyle, whats the word ? |
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KHufford
6434 Posts |
Posted - 04/08/2008 : 3:34:25 PM
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quote:
Originally posted by jscorbett
Kyle, whats the word ?
Hey, sorry for the delay -
YES we can do a condo hotel - whats the scenario?
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VegasLoanz
57 Posts |
Posted - 04/21/2008 : 1:03:13 PM
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Kyle -
Please email me at ValJones.Loans@gmail.com. I have a super jumbo loan for a SFR SI/VA 703 mid fico that I need financing for. I look forward to hearing from you.
Thanks
Val |
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