We now Fund Airbnb Loans
STATED INCOME, NO DOC LOANS — NO income verification required & NO tax returns needed.
STATED INCOME, NO DOC LOANS — NO income verification required & NO tax returns needed.Expand your small-balance mortgage origination business with solutions for investors of 1-4-unit residential properties. Featuring fast closings and competitive rates, this stated income program is a smart alternative for clients looking to transition out of a short-term loan or acquire a new investment property. We treat your rental property like your own small business, and we underwrite to the cash flow it will produce, not your personal income. We don’t limit the number of rental properties you can own, so we give you maximum flexibility. We provide personalized service throughout the entire loan process – from quote to close.
Why Clients and Brokers Use Us?
Top 3 Reasons
- No tax returns or 4506T required during transaction
- No DTI calculation
- Competitive solution for Fannie Mae fallout
LOAN SIZE
- $100,000 to $3,000,000
LOAN TERMS
- 30 year fixed
- 5, 7, 10-year hybrid
- 30 Year amoritization
PROPERTY TYPES
- 1-4 unit attached/detached properties
- PUDs
- Condominiums (Warrantable/non warrantable)
- Airbnb
LOAN PURPOSE
- Purchase
- Rate/term refinance
- Cash-out refinance
BORROWER
- Business entity
- Credit Score: Minimum 620
- New Foreign Nationals Okay
- Individual Ownership Allowed
MINIMUM DSCR
- New No DSCR option available with 75% LTV at slightly higher rates. Call for more information.
Airbnb:
- Up to 75% LTV on Purchases
- Up to 70% LTV on Refinances and Rate and Term
- Need operating income for at least 1 year
- 100k minimum population by county
MAX LTV
- Up to 80% for Purchase and Rate & Term Refinances
- Up to 75% for Cash Out Refinances
INTEREST RATES
- Starting at 7%+
CASH-FLOW REQUIREMENTS
- Qualifying income based on property cash flows
- No Doc Loan:Â No W2, tax returns or 4506T required
- Closing in less then 30 days
LOCATIONS
Generally urban or suburban locations in primary, secondary, or tertiary markets.
PREPAYMENT PENALTIES ARE:
- 3% 1st year
- 2% 2nd year
- 1% 3rd year
- One Year Prepayment Option Available
- New We now offer a no prepayment penalty option!
TAKE THE NEXT STEP
Get preliminary approval for a Rental 360 Loan
Simply complete the form using the link below, or call us at 718-285-0806:
CONTACT US TODAY
FAST CLOSINGS AND COMPETITIVE PRICING FOR 1-4 SFR INVESTOR DEALS
Take advantage of Express Capital Financing’s expertise to meet your specific needs and close more small-balance deals! Closing costs range from $1000-$2995 for legal, commitment fee, underwriting, attorney & llc review.