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It’s back and we have it – no/low documentation Commercial Real Estate loans.

The no/low documentation is an interesting loan product that is making a comeback since the financial collapse of 2008.

The basic criteria:

  • minimum loan amount is $500,000
  • max LTV is 75%
  • minimum credit score is 630
  • must have cash reserves; the amount of the reserve varies based on the deal
  • must have experience investing
  • must provide tax returns or forms requesting extension

 

To get started with the no doc loan we will need the following:

  • Executive Summary
  • Bio on borrower that highlights investing experience
  • last 2 years tax returns or extension form
  • PFS – (Personal Financial Statement)
  • P&L’s on the subject property for last 2 years
  • Rent Roll
  • last 3 months bank statements
  • signed and countersigned contract on the subject property

 

 

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