CONVENTIONAL OWNER-OCCUPIED BUSINESS LOAN PROGRAM

Eligible Properties At least 20% of the property must be owner occupied. Offer full doc and stated income programs.
Loan Features
  • Acquisition financing up to 90%
  • Cash out refiances up to 75%
  • Can use outside personal income to qualify loan
  • Can use rental income from subject property to qualify loan
  • Offer full doc and stated income programs.
  • Only need to occupy minimum 20% of property.
  • Long term fixed rate loans.
  • Flexible underwrting
  • Minimum 600 credit score for full doc and 660 for stated.
Interest Rate Tied to spreads over the ten-year Treasury.
Loan Amount $500,000 - $5,000,000.
Loan Term Fixed Up to 25 years
Origination Fees Typically 1-2%.
Recourses Yes.
Rate Lock At Closing
Debt Coverage Ratio 1.25x
Prepayment Negotiable
Loan to Value Up to 90% on acquisitons. 75-80% on refinances
Third Party Reports Requires appraisal, structural engineering, and environmental reports. Generally $6,000 - $10,000.
Process Just need two years business financials, personal tax return, 1003 or personal financial statement and credit report to pre qualify the loan.

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