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| - Investment Properties Allowed; Non-Owner Occupied
- Applicable to SFRs, Condos, Condotels, Duplexes, Triplexes and
Fourplexes
- Min./Max. Loan Amount between 50,000~400,000
- 6 Months Reserves Required
- Min. Payment Rate of 1.2%
- Four Payment Options; Min. Payment/Interest Only Payment/15 YR Fully
Amortized Payment/30 YR Fully Amortized Payment
- Conversion Option to Fixed Rates is Available
- Purchase Loans to 90% Financing (LTV); subordinate financing allowed.
- Refinance Loans to 90% Financing (LTV)
- Title can be vested in the name of an individual, Joint, Inter Vivos
(Living) Irrevocable Trust or LLC/Corporation
- Stated Income/Stated Assets or No Ratio Documentation
- Debt Ratios up to 42 allowed
- FICO Score of 680 or above required to qualify for SISA or No Ratio
Program(s)
- 75% of Rent Roll Can Be Used for Qualifying Income; 75% of Rent Roll
On Other Properties Can Be Used for Qualifying Income.
- IRS Form 4506 Not Required
- 30 YR ARM Is Based Upon the MTA Index
- Loan Program Caps The Annual Payment (not interest rate) at 7.5%
(Example: Payment in the first year is 100.00, the max. annual
adjustment for months 13-24 would be 107.50).
- Lifetime Interest Rate Cap of 9.95%
Lower Payments = Better Cash Flow
Feel free to contact me if you have any questions.
Regards,
H. Scott Miller
National Commercial and Residential Lender/Broker
Carteret Mortgage
TOLL FREE PHONE#: 1.877.716.6495, ext. 5
TOLL FREE FAX#: 1.877.578.2041
EMAIL: hugh.miller@carteretmortgage.com or EZMortgageLoanz@aol.com
Real Estate Help Desk (www.RealEstate-IQ.com)
Automated Loan Assistant (www.EZMortgageLoanz.com)
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