no doc apartment
no-doc1
New Program.!

Now offering equity-based loans to borrowers who can’t qualify for a bank loan or who simply need capital fast. All loans are secured by commercial and residential properties.

Commercial: Multi-Family 5+ Units / Apartment Buildings, Office, Retail, Industrial, Mixed-Use, Special Purpose, AG, Land

Residential: Single Family Residences, Multi-Family 2-4 Units, Condos, Town-homes, Construction, Land, Development

Exceptions:   We will lend on all property types and all property conditions. All property locations will be reviewed.

  • NO FICO Score Requirements, Bad Fico Ok

  • NO Tax Returns, No Doc, Stated Options

  • NO Debt-to-Income Ratio Requirements

  • NO Debt Service Coverage Ratio Requirements

  • NO Financials, No 4506, All Property Uses

  • NO Red Tape “Make Sense Underwriting”

  • All Property Types, All Property Conditions

  • Self Employed Borrowers, Wage, No Doc

  • Stated Income Loans

  • Recent Foreclosure or Short Sale or BK Ok

  • Individuals, Trusts, Foreign Nationals, Corp LLC

  • 1st & 2nd Mortgages, Cross Collateral

  • Business Purpose and Commercial Use Only

  • No Seasoning Requirements Title or Funds

  • Purchase, Refinance, Cash-Out Equity, Mezzanine

  • Residential & Commercial & Industrial & AG/Land

…………………………………………………………………………………………………………………………………………………..
How are No Doc Loans Underwritten?
Rates based on L.T.V  Term,  Amortization, Property Types, and Borrowers Credit.

Best Biggest Variety of No Tax Returns Lender Programs.

Popular No tax returns and No Fico Minimum

Are you interested in purchasing or refinancing a residential or commercial investment property but your accountant does not have this years (2015) tax returns prepared yet? Therefore, if you have no tax returns or filed for a small amount a stated or limited doc is the best option for you.

Below is the first example of a no tax returns loan. Most lenders offer programs ranging from 30,000 up to 7 million. Please read below and email and call with any questions?

Eligible deals must be 1st position mortgages on a wide variety of commercial real estate with loans between $30,000 and $1MM. General terms begin with interest rates starting at 7.50% for a fully amortizing 30 year fixed commercial mortgage. Some program highlights include:

NOTE: If the property is in NJ you have to have a minimum of 5 units or 5 units plus commercial unit.

First example of a no doc loan

  • $30,000 to $1,000,000
  • No FICO Score Minimum
  • Rates as low as 7.25%
  • 30 Year Fixed
  • No Upfront Lender Fees (Appraisals are paid COD after commitment)
  • YSP Available
  • 2 to 3 Week Closing

Properties that are Eligible  include:

  • Self Storage
  • Multi-Family
  • Mixed-Use
  • Strip Malls/Shopping Malls
  • Retail Spaces
  • Office Spaces
  • Warehouses
  • Day Care Centers
  • Light Industrial
  • Hospitality
  • Marinas
  • Auto Body Shops
  • Auto Repair Shops
  • Car Wash
  • Mobile Home Parks
  • Churches

Property Types that are Ineligible!

  • Gas Stations
  • ALF’s
  • Land
  • Construction

Needed Documents! Purchase contract or L.O.I (Contingent on financing), income and expense/rent roll, leases, 10-03 res loan application, credit report) leases eventually

We do not fund in these states.

Vermont

Michigan

West Virginia

Tennesee

Kentucky

Mississippi

Alabama

Louisiana

Arkansas

Illinois

Iowa

Missouri

North Dakota

South Dakota

Nebraska

Kansas
Oklahoma

Montana

Wyoming

Idaho

Utah

Nevada

Arizona

New Mexico

Oregon

1% of origination

 $3,500 Processing fee for any loan $500k and up

$2,500 Proccessing fee for any loan $100k-500k

$1,000 Processing fee for any loan $100k and less.

 Appraisal paid directly to appraiser at time of inspection

 Title fees estimated at 1% of loan amount + $1,000

No taxreturns

( 2# ) Second example of a popular No Doc loan program.

(No Tax returns, 650 minimum fico)

  • Rates as low as 6.74%
  • Funding from $75K to $5MM
  • LTVs up to 75%
  • No pay stubs or tax statements required
  • 650+ mid FICO qualifies
  • No balloons- 30 year amortized term with a 3 or 8 year fixed period
  • Investor 1-4,
  • Multi-family,
  • Mixed-use
  • Office,
  • Retail,
  • Warehouse,
  • Automotive Service and more

Investment Properties 1- Unit

These investment properties include single family homes, condos, town homes and 2-4 unit buildings. As long as the property is non-owner occupied, and is used for investment purposes, Velocity can provide a loan for your borrower. Maximum loan amount is $750k on SFRs and $2 million on 2-4 unit buildings with up to 70% LTV. Loan sizes over $2 million, are considered on a case by case basis. Impounds required. Loan is assumable at lender’s discretion. Program unavailable in AK, IL, MI, MN, NH, ND, SD, and VT

Multi-family (5+ units) and mixed-use buildings. Maximum loan amount is $5 million with LTV up to 75%. Impounds required. Loan is assumable at lender’s discretion. Program unavailable in IL, MI, ND, SD, TN, and VT.

Office buildings, general retail, warehouse, self- storage and automotive services. Maximum loan amount is $5 million with an LTV of 70%. Program unavailable in IL, MI, ND, SD, TN, and VT.

We offer custom tailored loan programs according to the borrowers financial profile and the current or projected cash flow.

Needed Documents! Purchase contract or L.O.I (Contingent on financing), income and expense/rent roll, leases, 10-03 res loan application.

low-doc2

# 3 Example of no doc loan (No Tax returns, 620 minimum fico)

Today many traditional banks will not underwrite small balance loans or loans to support building purchase, renovations, debt consolidation or some other commercial mortgage application. Many self-employed building owners find it difficult today to find funding. Here we have another great example of a limited doc loan program.

  • Loans range from $25,000 to $1 million (minimum property value of $75,000)
  • Credit rating  620 or better
  • Property types financed include apartment buildings, mixed use, retail buildings, office buildings, warehouses, auto repair shops, day care businesses, hotels, motels, office buildings

We lend in 42 states by funding and servicing commercial mortgages for their customers. We do not lend in Alabama, Alaska, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.

Eligible Properties for owner Occupied Businesses

PROPERTY TYPES

MAX LTV & DSCR

OWNER OCCUPIED/NON-OWNER OCCUPIED

Single Family Residence (additional collateral only)
70           1.00            1.20 If 100% investment property
2-4 unit property
70           1.25            1.35 If 100% investment property
5+ unit property
70           1.25            1.35 If 100% investment property
Motel/Hotel
65           1.30            1.75 If 100% investment property
Mixed Use (commerical & residential)
70           1.25            1.35 If 100% investment property
Professional Office Space
70           1.25            1.35 If 100% investment property
Retail Store (Free/Strip Standing)
65           1.35            1.55 If 100% investment property
Mobile Home Park
65           1.35            1.55 If 100% investment property
Office/Warehouse
60           1.35            1.75 If 100% investment property
Church/House of Worship
60           1.25 O/O only
Garage/Storage/Auto
50           1.40 O/ O only
Small Commercial
65           1.35            1.55 If 100% investment property
COMMERCIAL LOANS
LOAN AMOUNT
Minimum: $25,000
Maximum: $350,000
LOAN TERM
5 Years – 25 Years
RATE
Fixed Rate
LIMITED INCOME VERIFICATION BUSINESS LOANS
LOAN AMOUNT
Minimum: $25,000
Maximum: $500,000
LOAN TERM
5 Years – 25 Years
RATE

Fixed Rate

INCOME PRODUCING REAL ESTATE

INCOME QUALIFYING BUSINESS LOAN

LOAN AMOUNT
Minimum: $25,000
Maximum: $500,000
LOAN TERM
5 Years – 25 Years
RATE

Fixed Rate

INCOME PRODUCING REAL ESTATE

INCOME QUALIFYING BUSINESS LOAN

LOAN AMOUNT
Minimum: $500,000
Maximum: $1,000,000
LOAN TERM
5 Years – 25 Years
RATE
Fixed Rate 7.5% par                    ARM Prime + 4%

Please email to inquire if you qualify. Send 10-03 and credit report to start the loan process.

 

apply_online

#4  No Doc Loan ( No Tax returns, 650 fico )

  • No Doc
  • Loan amounts from $200,000 to $5,000,000
  • Minimum credit score generally 650 

Programs/         Term   /Am/LTV/DCR  MF&Mixed Use

5 Year Hybrid/  30    /30    50-75     Rate 7.00  – 8.25

7 Year Hybrid/  30   / 30     50-75     Rate 7.12 – 8.37

10 Year Hybrid/ 30/ 30     5-75       Rate 7.25 –   8.5

Property Types: Multifamily, 5+ Units, Mobile Home Parks, Mixed USE, Office, retail,Lt Industrial,  Self Storage, 1- single family pools (5+units- Unit value 100,000 & Min $500,000 Loan Properties must be in the same are or state.

Foreign nationals:  Limit to 60% LTV refi/ 65% LTV purchase

Target Credit Profile: No BKS,FC in last 2 years, No lates in last 12 months

Occupancy: Investor and Owner Occupied                                       

Lending Areas: nationwide except- AK,ND,SD                               

Tertiary Markets: Population (100,000 in 5 mile radius-60ltv       

          Index  6 months Libor                                                                                                         

Min credit score 650                                                                                                   

Margin: 4.00%                                                                                                       

Prepayment: Step down Ex 4,5,3,2,1                                                            

Cash-Out  Greater than 10% of loan amount after property liens & closing  costs.

…………………………………………………………………………………………………………………………………………

  • Loan amounts from $200,000 to $3,000,000
  • No tax returns required for Borrower or Guarantor(s) (Investor properties only. Owner occupied properties need tax returns for business only.)

3 Months Bank Statements to support liquidity and rent collection

…………………………………………………………………………………………………………………………………………

  • Bridge Loan   Rate 9% to 12% fixed, Interest Only   1-2 points
  • Loan amounts from $500,000 to $5,000,000
  • Up to 80% Loan to Cost & 70% Loan to stabilized value
  • Minimum credit score generally 650
  • 1 to 2 year loan term to facilitate take out
  • Nationwide
  • …………………………………………………………………………………………………………..
  • Limited Doc Bank Loan Program
  • Loan amounts from $500,000 to $5,000,000
  • Minimum credit score generally 700  (cash flow analysis required)
  • 1-4 Unit Property Program
  • Loan amounts from $75,000 to $2,000,000
  • Minimum credit score generally 650 
  • Includes 2, 3 and 4 unit properties and non-warrantable condos.

 

……………………………………………………………………………………………………………………………………

low doc3

New Loan program for

Mixed use & multifamily up to 75% LTV

Automotive, warehouse, retail, office, light industrial & mobile home parks 70LTV

My min credit score is 660.

Lender does not fund 1-4 family properties for this loan program.

Investor properties Max 70LTV/Business owner occupied Max 70ltv

The minimum loan amount is 250,000. with a max of 1 million

Loan Purpose: Purchase,Co,Refinance

Loan Product: 5- year/ 7- year Hybrid 10 year fixed

Rates:  6-9%

Amortization: 15,20,25,30

Eligible states: top 200 MSA’s

Eligible Borrowers: US Citizens, Permanent Resident Aliens, Legal entities

Index: wall Street Journal Prime rate

Property Types: Mixed use & multifamily up to 75% LTV

Automotive, warehouse, retail, office, light industrial & mobile home parks

Pre pay: 5% for first 5 years

Legal entities include corporations, LLC’s, partnerships and trusts with majority ownership by US citizen or permanent resident alien. All principals with minimum 25% ownership must personally guarantee loan.

Loans are assumable

Max LTV 65% for automotive and Mobile Home parks

Lender does not lend in the following states DE,HI,ID,MI,MT,ND,NV,SD,TN,VT,WV,WY

Max LTV is 65% for 30 year amortization

•             No tax returns or 4506T’s on investor loans

•             No seasoning requirements on refinances

•             Unlimited cash out

•             3 year pre pay option (25bsp to rate)

•             30 year term available on all property types

•             Bank Statement Program for business owner occupied max 70ltv

Lender fees: $2,000

Legal doc fee: $1,000

………………………………………………………………………………………………………………………………………….

We offer many No Tax returns, Limited Doc loan programs.

Here is an example of a Hard Money lender that also offers limited doc – full doc funding.

Now offering permanent loan programs provide secure long-term financing without the traditional hurdles of large banks. General scenarios include long-term, fixed-rate loan programs ranging from 5-30 years for stabilized assets across all property types.

Permanent Lending Platform

Time to close 30 – 45 days from application
Loan Size $1,000,000 – $50,000,000
LTC Up to 80%
Lien Position First Mortgage or Deed of Trust
Loan Term 5 to 30 years
Interest Rates 4.50% to 6.00% fixed
Yield Maintenance Minimal pre-payment penalty
Deposits Deposit adequate to cover third-party reports, legal fees, and other deal costs
Origination & Exit Fees Origination: 1.5% to 2.5% & Exit 0.5% to 1%

…………………………………………………………………………………………………………………………………………………………………………………………………

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Here we have a lender I received an LOI from so i wanted to promote their product.

Sub Prime Business Purpose (LIMITED DOC LOAN)

·         $100,000 to 2 million Loan Amounts

·         No Income Documentation

·         Non Owner Occupied

·         Rates start at 6.99%

·         No Points

·         75% Max LTV (Loan to Value)

·         70% Max Refinance

·         3 /1, 5/1, 7/1 ARM fully amortized over 30 years

·         AZ, CA, CO, FL, GA, ID, KS, MT, NC, NE, NM, NY, OK, OR, SC, TX, UT, VA, WA, WY

·         600+ FICO

·         Foreign Nationals Allowed

·         SFRs, Condos, Condotels, Town Homes

·         Fast Funding

 

I hope you have reviewed and found the answers you are looking for. For the most part above is the majority of no doc loan programs available. Its possible to maybe list a few but they will just start to look the same because they are all very similar. If you feel that  you have tax returns but they don’t show $100,000 a year maybe show 30-35.000 a year perhaps we have a better product for you then the above options. There are other limited doc programs available that fall somewhere in between full doc and no doc loan called limited doc. These loans are all custom tailored and quoted once you provide at the very least a PFS and a credit report.

Please email me any questions? mark@commercialmortgageunlimited.com Thanks Mark Fulop

image001

 We offer a huge variety products. Below is some new products that I have to merge into my site.

Owner Occupied Rate Sheet Notes

-50k-2 MILL

-43%-55% DTI allowance

-7/1 ARM or 30 YEAR FIXED

-80% MAX LTV PURCHASE

-75% MAX LTV REFI

-FULL DOC / Asset Depletion / 12/24 PERSONAL BANK STATEMENTS/ 24 BUSINESS BANK STATMENTS

 

NON-Owner Business Purpose Rate Sheet NOTES

-NO Income Stated or Verified

-Borrower must own PRIMARY Residence and be on title

-Rates at PAR

-3/5/7 year ARM’s

-30 Year fixed available

-75% MAX LTV on Purchases (sourced and seasoned down payments)

-70% Max LTV on Purchases (NO seasoning required)

-Subject property cannot be worth more or larger in size as it relates to a Purchase

-3 Year Pre-pay on every loan

-Ability to buy-down pre-pay to 1 year (each year bought down is .5 hit to the rate)

-2 week close on average

Hard Money Rate sheet NOTES

-NO Income Stated or Verified

-Borrower does not need to own PRIMARY

-Renters OK

-Rates at cost (.75-1.875)

-6 months- 5year terms that balloon at the end of the term

-2 week close on average

 

 

Items Required for Submission

-Submission Sheet (attached)

-1003 (no income shown)

-Credit report

-Driver’s License

-Full Executed Purchase Agreement (if Purchase)

-anti coaching letter (if renter, I will send this to you when the time is right)

 

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