Summary
Financing for 2-8 unit properties that include both commercial and living space.
Qualifications
Minimum Down Payment
25% of sales price
Minimum Credit Score
660
Cash Flow Ratio
100% debt service coverage to $1 Million, 110% debt service coverage > $1 Million
Eligible Property Types
Max 6 units. Max 2 commercial units and 50% max commercial usage.
Loan Amount
$200,000 to $2,500,000
Reserves
6-12 Months (based on loan amount)
Occupancy Type
Investment Only
Vacancy
Can be vacant (will use appraisal rent schedule for rent amount)
Appraisal Transfer
Yes we will accept appraisals from another company
Transaction Types Allowed
Purchase, refinance, and cash out
Sourced Funds
2 months bank statements