|Reserves Requirement||6+ months of liquid financial reserves measured by number of months of the
qualifying principal and interest payment of the subject property for all purchase, cash-out, and rate/term transactions
|Buy Downs||0.375% = 1 point cost|
|Caps/Floors||WSJ Prime Index plus margin on note date | Initial Reset and Annual Adjustment
Cap: 2% | Life Cap: Initial rate +6% | Life Floor: Initial rate
|Broker Compensation||Origination: Up to 2 points | YSP (Rate/Margin increase 0.375%): 1 point|
Why do Brokers Choose Silver Hill Funding?
Top 5 Reasons
- No tax returns or 4506T required during transaction
- No DTI calculation
- Competitive solution for Fannie Mae fallout
- Rates starting at just 5.750%
- Borrowers can launch transaction with just a $500 deposit
Closed Loan in Torrance, California
An investor in California was looking for a cash-out refinance solution for their multifamily investment property that would not require a traditional agency DTI underwriting.
Silver Hill Funding was able to meet their needs thanks to their 1-4 Plex Program, which also gives borrowers the ability to secure financing without having to provide tax returns.
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