Exciting Mortgage Program Update: No Reserve Options Available on Investment Properties or a Minimum of 3 Months Reserves (In Some Cases 0 Months!)
Are you looking for a mortgage program that caters to your investment needs? Our interest-only program is designed to assist borrowers with all of their investing goals, whether you’re an experienced investor or just starting out.
- Minimum FICO Score Down to 620: We understand that credit scores can vary, and we believe in providing opportunities for borrowers with a range of credit histories. With a minimum FICO score requirement of 620, more borrowers can qualify for this program.
- No Additional Reserves Required for Borrowers Using DSCR: If you’re using the Debt Service Coverage Ratio (DSCR) to qualify for your loan, you won’t be required to provide additional reserves, regardless of the number of financed properties you own. This flexibility allows you to focus on your investment strategy without worrying about additional financial obligations.
- Loan Amounts Up to $4M Permitted: Whether you’re looking to invest in a single property or multiple properties, our program allows loan amounts of up to $4 million. This gives you the freedom to pursue larger investment opportunities.
- Maximum Loan-to-Value (LTV) of 85%: With a maximum LTV of 85%, you can secure financing for a significant portion of your investment property’s value. This high LTV ratio provides you with more leverage and the potential for higher returns on your investment.
- Maximum Cash-Out (C/O) of $1M: Need some extra cash for your investment ventures? Our program allows for a maximum cash-out amount of $1 million. This can be a valuable tool for expanding your investment portfolio or funding other projects.
- Interest-Only Option Available: We understand that cash flow is crucial for investors, especially during the initial stages of an investment. That’s why we offer an interest-only option, allowing you to make lower monthly payments and allocate your funds toward other investment opportunities.
With these program highlights, we aim to provide a comprehensive mortgage solution for investors of all levels. Whether you’re a seasoned investor or a first-time investor, our program is designed to meet your needs.
Please note that reserve requirements may vary depending on the specific circumstances and loan terms. It’s always best to consult with one of our mortgage professionals to determine the exact requirements for your situation.
If you’re ready to take your investment journey to the next level, contact us today to learn more about our interest-only program and how it can benefit you.