Create new opportunities for closed loans with our no doc, no hassle solution
Meet the Silver Hill No Doc Streamline Program for loans of $100,000-$300,000. We don’t need tax returns, bank statements, leases, a rent roll, or historical operating statements to close your deal.*
Take advantage of our competitive pricing and flexible terms to capture more business and generate more income from non-bankable commercial loans.
*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.
CommercialProgram | 1-4-Unit InvestorProgram |
|
|---|---|---|
| Purpose | Purchase/Cash-Out/Refinance | Purchase/Cash-Out/Refinance |
| Loan Sizes | $100K - $2MM | $100k - $2MM |
| Terms | 5-Year ARM 30-Year Fixed | 5-Year ARM 30-Year Fixed |
| Amortization | 15,25,30 | 15,25,30 |
| Max LTV | <$500K: 75% >$500K: 70% | <$500K: 75% >$500K: 70% |
| Min FICO | 650 | 650 |
| Min DSCR | Owner-Occupied: 1.2* Investor: 1.15** | 1.0* |
| Stabilization | 75% occupancy required over a 90-day trailing UW period** | SFR/Duplexes - 100% Triplexes - 66.67% 4-Plexes - 75% |
| UW Method | Owner-Occupied: Global DSCR Investor: Property DSCR | Property DSCR |
| Documentation | 2 years personal and business tax returns | No tax returns required. Leases if using actual rents |
| 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 | 1-4-Unit Attached/Detached, PUD, Single Family, Townhome |
| Pre-Payment Penalty | 5% for 5 years | 5% for 3 years | Declining 5%, 4%, 3%, 2%, 1% | 5% for 5 years | Declining 3%, 2%, 1% | Declining 5%, 4%, 3%, 2%, 1% |
When does this solution make sense for borrowers?
Top 3 Cases
Case Study
Closed Loan in Skokie, Illinois
PROBLEM
A business owner in Illinois wanted to execute a cash-out refinance but needed to work with a lender that would lend on an automotive property.
SOLUTION
The borrower’s broker took the deal to Silver Hill Funding and secured a 5-year hybrid loan with no tax return requirement for qualification.
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.
Have a Deal Right Now?
Tell us about your commercial loan scenario here. One of our mortgage experts will be in touch with next-step information soon.