Long Term Lender

The Borrower

Borrower Types

1.  Investors Only                             
2.  U.S. Citizens, Permanent & Non-Permanent
     Resident Aliens. 
3.  Buyers may not be related to sellers in any manner
     without  full disclosure.
4. ​ Individuals, LLC's, Corporations & Limited
​     Partnerships.
5. ​ No owner occupied loans.

Borrower Vesting

1.  Title may be held as: Individual, Corporation, LLC
​     and  Partnerships. 
2.  Trusts subject to approval. 
3.  No non-profits.
4.  Max of two individuals per loan
5.  Fraud, OFAC Checks & Identity verification required.

80% Loan-To-Value Loans

Purchase only: 740 and above Credit Score

Purchase Only: 680 and above Credit Score with  3 mortgages in the past seven years  with at least 12 mo. payment history.   No mortgage lates in the past 36 mos.

660 - 679 Credit Score 75% 

​No Income Verifications ​

1.  No 4506-T filled with the IRS to obtain copies of
     filed tax returns.
2.  No verification of employment​​ (VOE)
3.  No debt-to-income calculations (DTI)

Borrower Credit 

​1. Use middle of 3 or lesser of 2.  Minimum of 2     
​    scores required.  Tri-merge report required
2. Minimum of 24 months credit history.
3. Minimum of 3 active trade lines ($1,000 minimum
​    line of credit) per borrower in last 24 months.
4. No cum. 1x60 lates on Primary or Investment
    mortgages in prior 12 months and cannot be past
    due.
5. No cumulative 1x60 lates on non-mortgage trade
    lines in prior 12 months, except: medical, utilities 
​    & education.

Credit Bureau Reporting

The lender does not burden your investor portfolio by reporting to the 3 credit bureaus.  

The Property

​Property - Eligible

1.  Single family detached, 1-4 multi-family, townhomes,     ​     warrantable condominiums
2.  ​Up to 2 acres (possible exception)
3.  Minimum gross living area 750 square feet
4.  Leased or unleased must be rent ready

Appraisal Requirements

1.  All loans require Form 1007 Appraisal with internal
​     property pictures.  
2.  Appraisals over 90 days old must be updated.        
3.  ​Property condition must ba a C1 through C4
4.  Leased or unleased; must be rent ready

Property - Not Eligible

​ 1. Non-Warrantable Condominium
  2. PUD's
  3. timeshares
  4. condotels
  5. mixed-use
  6. fractional ownership
  7. mobile homes,      
  8. unimproved land
  9. zoned agriculture
10. commercial property
11. working farms/ranches/orchards
12. unique or over improved
13. geodesic domes or earth homes
14. properties subject to oil or gas leases.