Investment Property Jumbo Loans After Foreclosure

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,101
181
63
San Diego, California
www.loansreduced.com
We have recently launched a new product to help investors and people seeking to buy investment properties with prior derogatory events. Below I will be explaining the requirements and qualification parameters that will need to be met that start at a minimum of 10% down!

This product is designed to help investors avoid hard money loans which can be very costly and require a significant amount down by avoiding typical Investment property seasoning on economic events. We have decided to open up these opportunities to borrowers that have proven themselves to be creditworthy.

Loan Details:
  • Event Seasoning: 24 months from Bankruptcy Dismissal/Discharge date, Pre-Foreclosure Sale, Deed-in-Lieu or short sale. Only ONE housing/credit event is allowed.
  • Minimum FICO: 620
  • Minimum Loan Amount: 100,000.00 (pricing adjustments apply for lower loan amounts)
  • Maximum Loan Amount: 2,000,000.00
  • Unlimited Financed Properties
  • Maximum 5 Financed Properties with us
  • Landlord History: Borrowers with less than 12 month history managing multiple investment properties are limited to 4 acquired properties in the last 12 months
  • Mortgage Pay History: 0x30 day late payments in the most recent 12 months on all mortgages/rentals
  • Maximum DTI 43%
  • 5/1 ARM and 30YR/Fixed Available
  • Acceptable Property Types: Single Family, 2-4 Units, PUD, Warrantable Condo and Non-Warrantable Condominiums including Condotels
  • Reserve Requirements vary depending on down payment
  • 680 FICO - 10% down minimum
  • 660 FICO – 15% down minimum
  • 620 FICO – 20% down minimum
If you have any questions about this program, please call us at 800-779-4547 or apply online at www.LoansReduced.com
 
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