Hot Loan Product #6

Hot Loan Product #6

75% Stated income and Verified Assets “SIVA” at 8.5% for 4 years.

See rate flyer below. Low fico OK. Loan amounts $75K to $5,000,000. Need 1003, credit report, 3 months complete bank statements all pages, Need to show 4 months reserves which can be an unseasoned gift, No personal financials, and your choice fund as individual or Corp. Choose a loan term 12 months to 4 years. I/O payment. For loans outside of California add 1% to the rate. You best choice is Hot Loan Product #6 .

Non owner investment loan only. CA, AZ, WA, TX, Oreg, CO, UT & FL only properties.

Stated income loans allow borrowers to simply state their monthly income on a mortgage application instead of verifying the actual amount by furnishing pay stubs or tax returns. This simplified method was originally intended for self-employed borrowers with complicated tax schedules, but has recently become more widespread, often because borrowers find this much easier to qualify for a loan by stating their income. See rate sheet and specific loan application below.

******************************************Flyer for Titanium Loan ***************************

List of Forms & Documents Required:

    1. 3 months complete bank/financial statements (to show 4 months reserves – no seasoning okay) 
      1. To expedite your file organize statements separated by month in adobe format “.pdf”.
    2. Declaration of Non-Owner Occupancy form Link to Document 
    3. Letter of Experience form Letter of Experience
    4. Photocopy of valid ID
    5. If title to be held in Corporation/LLC    Articles of Organization/Incorporation – Operating Agreement/Bylaws
    6. Purchase Transactions – fully executed purchase contract
    7. Refinance Transactions – mortgage statement
    8. If property will require rehab, provide construction bid/plans (if recently repaired list of repairs made)
    9. If property is leased, provide lease agreements
    10. If property is leased and is more than 1 unit, rent roll Schedule of Real Estate Owned
    11. Insurance declaration page/quote for coverage
    12. 1003 Loan Application – use printed 1003 leave liabilities blank. 
    13. Credit report we will pull or if broker submitted need full 3 bureau – but we still have to pull it
    14. Borrower authorization Borrower’s Authorization
    15. Borrower authorization to run and pay for credit  Credit $ Authorization Form
    16. Borrower authorization To Wire Funds Authorization to Wire Funds
    17. SI form – Statement of Information SI Form – Statement of Information
    18. How do you want to hold title Vesting Form For Borrower
    19. Social Media disclosure Social Media Disclosure
    20. **To expedite your file organize documents in adobe format “.pdf”.

 

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3 loan choices –

1st Choice the 1 year loan – Interest only payments for 12 month term with a balloon payment due at the end of the term.

2nd Choice – 2 year loan – Interest only payment for 24 month term with a balloon payment due at the end of the term. This loan has a minimum period of 15 months interest to be collected.

3rd Choice – 4 year loan – Interest only payment for 48 months term with a balloon payment due at the end of the term. This loan has a minimum period of 24 months interest to be collected.


Abbriviated List Of The Most Popular Loans We Offer :


If you like fast, honest answers call us or fill out the loan request form .

DRE 01105429 (NMLS# 469849) | Phone: 310-737-8420 | Fax: 310-496-6196

Equity Development | 22287 Mulholland Highway Suite 198, Calabasas CA 91302

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