YOUR INVESTMENT LOAN PRODUCT SOLUTION
A NEW INVESTMENT LOAN PRODUCT IS EXPLAINED HERE! The Investor Edge is the key to financing non-owner occupied investment properties without verifying your personal income. This is a brand new investment loan product.
Investment Loan Program Highlights:
- Unlimited number of financed properties
- Square footage of the home needs to be at least 1200 sq. ft.
- Approval based on cash flow of property
- Loan amounts from $100,000-$1,000,000
- 720 Plus Fico Score
- No bankruptcy, short sale, or deed in lieu within the last 7 years
- Verification of employment history only
- Purchase or refinance up to 5 properties with this investor
- Need 18 months reserve on subject property
- Need 6 months reserve for each additional property financed through the same lender
- Single family residence only
- If cash out refinance, need a copy of your original security deposit from renter.
- Need 2 months bank statements
- Turn times are 48-55 days
- Non-QM loan product
- Need a copy of your master insurance policy with our HOA
- W-2’s and paystubs are not needed
- Need your personal tax returns for the last two years
- Tax returns must be signed and dated
- Properties listed for sale within the last 2 months are not eligible for cash out
- Escrow waivers are not permitted
Do you own more than 4 investment properties? You must demonstrate sufficient landlord experience. Landlord experience is defined as having experienced owning and managing at least two (2) rental properties for at least twenty-four (24) months within the past 3 years per the 4506T transcript.
Debt to Income Ratio For Property
For this product, the debt-to-income ratio is only calculated on the subject property. Only the PITIA and rental income of the subject property are considered. No other income or debts are used.
The subject property debt-to-income ratios is calculated as follows:
Monthly Payment (PITIA)
Monthly Rental Income Excluding Sales Tax
- The Monthly Payment (PITIA) includes principal, interest, real estate taxes, home owners insurance, and hoa fees.
- The Monthly Rental Income is the gross rental income realized from the property.