No Minimum FICO

Specs:

Loan Size: $75k - $2MM
Rate: 11%-12% on average
Term: 1 year, interest only
FICO: No Minimum FICO
LTV: up to 70%
Turnaround: 4 weeks, + -
Loan Type: Refi, Cash-Out, Purchase
Docs Required for Consideration: 1003 application, Tri-Merge Credit Report
Properties: SFR (Single Family Residence), multi-family 2-4 unit
Perfect for clients with challenged credit as a means to pull cash out or purchase a property.  Goal is to then work with the client to get their credit up above 650 and refi into permanent program.

 

Bridge Funding

Specs:

Loan Size: $100k - $50MM
Rate: 9%-12% on average
Term: 12-24 months, on average
FICO: Typically 650 or above
LTV: 65% - 75% on average, up to 80% possible
Turnaround: 4 – 8 weeks, on average
Loan Type: Refi, Cash-Out, Purchase
Docs Required for Initial Consideration: 1003 application, Tri-Merge Credit Report
Multi-family, Retail, Office, Light Industrial, Hospitality, Healthcare, Mixed Use, Development, Condo/Townhome, etc.

 

Blanket Liens

Specs:
Loan Size: $500k - $100MM
Rate: 5.5% - 8%
Term: 5-10 years
FICO: Typically 650 or above
LTV: 65% - 75% on average
Turnaround: 6 – 8 weeks, on average
Loan Type: Refi, Cash-Out, Purchase
SFR, Multi-Family, Apartment Communities

 

Full - Doc Bank Loans

Specs:
Loan Size: $250k - $15MM
Rate: 5.5% - 7.5%
Term: 5/15 (5 year term, 15 year Amortization)
FICO: Typically 650 or above
LTV: 75% on average
Turnaround: 6 – 8 weeks, on average
Loan Type: Refi, Cash-Out, Purchase
Retail, Office, Light Industrial, Developer, Multi-family

 

Primary Residence (stated income or W-2)

Specs:
Loan Size: $100k - $10MM
Rate: 6.5% - 8.9%
Term: 5/1 ARM (rate fixed for five years, 30 year Amortization)
FICO: Typically 580 or above
LTV: 70% on average
Turnaround: 4 – 6 weeks, on average
Loan Type: Refi, Cash-Out, Purchase

Call us today at 1.877.F-U-N-D-E-R-1

1.877.386.3371

Additional lending interests include commercial mortgage backed securities, financing of borrowers with cash to facilitate  the  repurchase of notes at a discount,  debtor in possession financing, as well as other creative lending options.

No Min FICO, Bridge, and other loan programs:

Position One Funding

1.877.386.3371