SFR (1 – 4 Unit) Buy and Hold Loan Products
Program 1–
Transaction Type………………… Purchase, Refinance & Cash-out Refinance,
Loan Amounts..……………………$100,000 to $1,000,000 (exceptions case by case)
Amortization/Term……………… 30 year fully amortizing / 30 year loan (3 and 5 year fixed)
Rate ……………………………… 8.25 to 9.75%
Prepayment Penalty……………… 5% for each year loan is fixed.
- Income Producing & Non-Owner Occupied
- No limit on number of properties owned
- No tax returns required
- Loans From 100K to $1 million
- Up to 70% LTV
- 650 fico (exceptions case by case)
Additional Lending Guidelines:
·Appraisal Dep. required for third party reports
·Impounds for property taxes and insurance required
·CLTV = 10% Above LTV
Program 2 – 10 year term with 3 year balloon
Program 3 – 5 year fixed fully amortized with annual renewal fees
ü No PP Penalty on any loan
ü 65% LTV
ü Loans From 30K to 100K
ü No Doc
ü No Credit Check
ü 34 states
ü 5 and 10 year – 18% annual
ü Fees – 6% origination (financed), $700 closing fee (not financed)
ü Broker fee- 2% (not financed)
Submission Docs required:
- http://jdbfinancialllc.com/_documents/Residentialexecutivesummaryand1003.pdf
- Lease(s)
- Articles of Incorporation
- 2 months bank statement
- Interior and Exterior Photos
- Color ID