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Stated Income Loan Rate Sheet | Purchase or Cash out | 70% LTV No taxes or w2's needed
Stated Income - Verified Assets Loans for Cash-Out and Rate and Term Refinance and purchase.
1) Second Homes and Non-Owner Occupied - SFR's, 2-4's and Condos. 700 FICO needed.
SIVA Home Equity Line of Credit (HELOC) - 60% LTV - $100,000 - $1,000,000. - 1st position only.
Rate is Prime + 1 floating with a 6% start rate, 10 year draw.
6% Floor and 18% lifetime cap
10 year draw and 25 year amortization
Available only in CA.
2) Second Homes and Non-Owner Occupied - SFR's, 2-4's and Condos. 700+ FICO needed.
SIVA Home Equity Line of Credit (HELOC) - up to 60% LTV - $100,000 - $500,000.
60% LTV, Owner-Occupied, 6.0% floor and start rate - Prime + 1 floating
50% LTV, Non-Owner Occupied, 6.5% floor and start rate - Prime + 1.5 floating
50% CLTV, Second position, 6.5% floor and start rate - Prime + 2.0 floating
Both 18% lifetime cap.
10 year interest only and draw and then additional 15 year amortization.
Available in: Los Angeles and Orange Counties only.
3) Stated Income - Verified Assets | Second Home or INV | Self Employed or W2, No 1099s| SFR's, 2-4 Units, Condo or PUD. 700+ FICO needed.
Purchase or Refinance, Cash-Out Refinance to $100K
Gift to 95% of Down Payment OK
70% to $417K or 60% to $1.0MM
Owner-Occupied: 30 year fixed 5.85% | 15 year fixed 4.70%
Non-Owner Occupied: 30 year fixed 5.85% | 15 year fixed 5.60%
Available in: California, NY, NJ, MA, IL, TX and WA.
4) 720+ FICO Second Home for Self-Employed “Business Owners” only
$420,000 - $1,500,000 Max LTV 70%
5/1 Arm 3.05%, 7/1 Arm 3.550%, 10/1 Arm 4.05% - Rates subject to FICO, LTV and Assets
1 Yr. LIBOR, 2/2/5 Caps, 2.50 Margin
Depository Relationship is Required, Auto-Pay Required
24 Mos. of PITI Reserves a must
No Limit on Properties Financed
Cash-Out Refi to $250,000 @ 50% LTV
No Seasoning Required on Refinances
Private Money, No Income-No Asset (NINA) Loan Product for Residential or Commercial
5) No Income, No Asset Purchase or Refi Loan, Amounts to $4,250,000 and Close in 15 days.
Private Money Loans for Owner Occupied, Non-Owner and Investment properties - 65% LTV
•Interest only & Interest reserve options
•Construction & Rehab to completed 65% LTV
•Investor & REO financing - Any amount of properties allowed
•No mortgage or minimum FICO credit history required
•In Bankruptcy or foreclosure OK
•Unlimited cash out
•No title seasoning required
Available in California
Requirements and Documentation for the Stated products (Loans #1-4):
Call or email for a loan application and financial statement and return by PDF.
Current month Bank or Asset statements showing 6+ months of payment reserves.
Credit will be pulled at the Bank and must be derogatory free last 24 Months.
Borrower may be required to open a deposit account with the Bank (FDIC insured) and enroll in autopay for the mortgage payment.
Provide a copy of DL and SS card or passport.
We will provide a Loan Consultancy Agreement, to be fully executed and returned.
Scan, label and email all documents.
The Banks' fees, in the transaction: HELOC products vary by institution, from $1,000 for Owner Occupied to $3000 for Non Owners. HELOC (#2), and the 30 year loans have a 1 point fee at application, (100% refundable in the event of no close) which cover underwriting, escrow and title. Additional costs are customary prepaid interest, transfer taxes and recording fees. All loans have separate non-refundable upfront cost of appraisal and credit report, +/-($540).
Our Loan Consultant fees in a Holding Escrow: To be deposited before loan submission, held, and disbursed after the loan funding.(100% refundable in the event of no close) Loan amounts to $350,000 minimum flat fee of $7000, over $350,000 - 2 points.
The information furnished here is preliminary. This is not an offer nor a commitment to lend and shall not be construed as such. Rates, terms, and conditions may be changed without notice. All private money loans offered in accordance and compliance with CA BRE regulations. Stated loans are provided to, and conform with applicable state laws regarding commercial lending transactions. All loan transactions are subject to the submission of a formal application, appraisal, underwriting, and written lender approval. Loan approval terms may vary by asset. Insurance acceptable to the lender is required to be maintained on subject property for the duration of the loan.
RMF Lending, Inc
Private Money lent in accordance with CA BRE # 0189351
Available to the General Public, Mortgage Brokers and Realtors.