Lite Doc Investor Program is back
Purpose | Purchase/Cash-Out/Refinance |
Loan Sizes | $100K - $2MM |
Terms | 5-Year ARM 30-Year Fixed |
Amortization | 15,25,30 |
Max LTV | <$500K: 75% >$500K: 70% |
Min FICO | 650 |
Min DSCR | Owner-Occupied: 1.2* Investor: 1.15** |
Stabilization | 75% occupancy required over a 90-day trailing UW period** |
UW Method | Owner-Occupied: Global DSCR Investor: Property DSCR |
Documentation | 2 years personal and business tax returns |
Eligible Properties | Tier I: Multifamily, Mixed-Use (primary res) Tier II: Retail, Mixed-Use (primary comm), Warehouse/Self-Storage, Office, Light Industrial, Automotive, Mobile Home Park |
Pre-Payment Penalty | 5% for 5 years | 5% for 3 years | Declining 5%, 4%, 3%, 2%, 1% |
*Debt service requirement is based on borrower’s FICO score and may be higher than figures shown.
**Not applicable if property is purchased as a new space or expansion.
Note: Underwriting guidelines have changed to reflect today’s environment. Contact your Regional Manager to learn how we are approving loans today.
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%): 2 points |
Why do Brokers Choose Silver Hill Funding?
Top 5 Reasons
Case Study
Closed Loan in Sacramento, California
Self-Storage | $1,584,000
PROBLEM
An investor in California wanted to refinance their commercial mortgage but was unable to get the cash-out they needed from their current lender.
SOLUTION
Silver Hill Funding provided a more flexible alternative solution that made it possible for the borrower to obtain the full cash-out amount.
