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Section 8 and HAP Contract Properties.
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Individuals, corporations, revocable trusts, partnerships, maximum 2 member LLC (no sub entities).
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- Low interest rates
- 10 - 30 year fixed rates.
- Low third party costs.
- Can underwrite with 6 months stabilized income.
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| 6 month, 3, 5, 7 and 10 year terms available. |
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| Recourse and non-recourse. |
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| Assumable, subject to approval and applicable fees. |
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| 1.15 Purchase, 1.20 Refinance. |
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| Declining based on loan term. |
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Acquisitons 80% - 85% with seller financing
Refinances - 75% - 80% cash out
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| Cash out - 3 to 12 months required, up to 90% of orig. purchase price. |
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| Middle Credit scores 640 and over generally required |
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| $3,500 deposit typically required for appraisal, environmental, and property inspection . |
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| Early or standard rate locks available. |
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| Taxes and Insurance typically required |
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Include the following in your request for a loan quote:
1. Completed Loan Summary
2. Current Rent Roll
3. YTD Operating Statement
4. Past two years financial statements on property
5. Copy of Purchase and Sales Agreement (if applicable)
6. Digital Photos of Propert
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