Wednesday, November 7, 2007

What's hot right now

Every so often, I ask my lenders to let me know if there’s anything hot going on in their programs. A few things that have come up:

1) High LTV on multi-family is back! One of my lenders now has multi-family housing loans up to 90% LTV, purchase or cash-out. 6-unit minimum, 680 minimum FICO, very flexible on debt service ratios.
2) Another lender has stated income purchase deals for office or warehouse properties, up to 90% LTV. (700 minimum FICO, 12 month rent-roll required with application.) This lender also has rate/term or purchase deals with below prime rates for income producing properties with value of $500,000+.
3) Lastly, I have another lender with accounts receivable loans for businesses with slow payers. (Work must have already been performed.)

Let me know if you have questions on any of these programs or anything else.

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