Loans are qualified by using the property as the primary collateral for each loan.
You are NOT required to furnish W-2's, Financial statements or income tax returns to get a loan.
Your stated income and ability to repay the loan based on your investment or equity in the property are considered.
Requied Payments tend to be Interest-Only
Loan can be assembled to include upcoming payments (prepaying your future upcoming payments within the loan)
Loan amounts of up to 65% of the properties value
No Second mortgages
No Subordinations
Loans terms tend to be 1 to 5 year Fixed
Goal: to repay the loan once a 12 or 24 month positive mortgage payment history is recorded and you are able to qualify for a conventional mortgage loan.
"If you are facing foreclosure, or when a needed refinance opportunity would be missed if institutional underwriting were necessary, these lenders can act fast to get the funding needed to save the borrowers investment."
Special Note:
If you are a Mortgage Broker and know someone going through foreclosure or needs to refinance who can not qualify for an institutional loan, please let us know.
We can help by directing them to an equity lender who will pay off their current mortgage in full and stop their Foreclosure!!!
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