New mortgage Product For Investment Properties In Santa Rosa
By Scott Lawson, Mortgage Broker FHA, VA, refinance or purchase
(America's Home loans - Santa Rosa, Petaluma Mortgage Broker)
Need a mortgage for an investment property in Santa Rosa, Petaluma, or anywhere in Sonoma County but can't qualify due to strict Fannie or Freddie guidelines? Here's a new mortgage product specifically for the borrower in need of financing but can't seem to find anything but hard money. This is a non QM mortgage that was just rolled out this week: A NO RATIO product for Investment Properties only · Unlimited Debt to income, non-owner occupied 1-4 units Only · Unlimited Number of Properties Owned (over 10 financed, residential properties OK) · Min 700 Fico, 60% Loan to value ratio, 3 & 5 Year ARMs · 6 month Hard prepay –followed by 18 month soft PP (total Prepay is 2 yrs –first 6 months is hard, remainder is soft) · Property analyzed like a commercial property -1....
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