Feel confident your deals will get approved – even if your clients are not able to disclose tax return documentation.
Tap into the reduced documentation solution that’s helping small-balance borrowers secure the loans they need today. With a focus on FICO, LTV, and 3rd party consumer credit information, Silver Hill can help you close more non-bankable scenarios in your market.
| Purpose | Purchase/Cash-Out/Refinance |
| Loan Sizes | $100K - $2MM |
| Terms | 5-Year ARM 30-Year Fixed |
| Amortization | 15,25,30 |
| Max LTV | 75% |
| Min FICO | 700 |
| Min DSCR | 1.0x |
| UW Method | Alternative data and borrower credit |
| Documentation | No tax returns, bank statements, or operating statements required* |
| 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% |
* Borrowers will be required to submit a purchase contract for transactions involving a real estate acquisition. Note that appraisal companies may require property documentation to assess final value.
| 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 3 points YSP (Rate/Margin increase 0.375%): 2 points |
When does this solution make sense for borrowers?
Top 3 Cases
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.
Success Stories
An investor in California wanted to take cash out of their mixed-use property and they needed a quick closing. Thanks to Silver Hill, the borrower was able to lock in a great rate – despite the fact that they never produced tax returns during the transaction.
A group of investors wanted to purchase a recently stabilized multifamily property after a full remodel. Silver Hill was able to approve the loan despite the stabilization issues and allowed the investors to purchase the property with just a 20% down payment.
A business owner wanted to execute a cash-out refinance but they were denied SBA financing. Thanks to Silver Hill’s Bank Statement Program, the borrower was able to get approved without having to submit tax returns.
Silver Hill was able to provide the perfect alternative solution for this business owner after their bank decided not to approve their refinance request.