30 year fixed no restriction investor loan.

Updated: Jun 23

Essencap is a direct lender in Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)


No restriction 30 year fixed program.


No tax return


No employment letter


No CPA letter


No seasonal fund requirement


30 Year Term Fixed-Rate


Rates 6.25-7.50%


Minimum $55,000 to Max $1,000,000 Loan Amount


Minimum $100,000 Value Requirement (Value to be within 2x Median Home Value for zip code)


Minimum 1.33x DSCR for Values sub-$150,000 & Minimum 1.20x DSCR for Values $150,000+


Min 680 FICO


3 or 5 Year Declining PPP (+0.25% Rate for 3 Year)


9 Months PITIA Liquidity Requirement (12 Months PITIA for Foreign National)


12 Months of Property Taxes & Insurance Escrowed at Closing


Loan to value:


Purchase: Lesser of up to 75% of the As-Is Value or Up to 75% Loan-to-Cost


Refinance: Up to 75% of the As Is Value


Cash-Out: Up to 70% of the As Is Value


Two weeks closing


For more information, www.essencap.com, wecare@essencap.com, or 888-269-1033

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45 Middle Neck Road, Suite 220

Great Neck, NY 11021

www.essencap.com

wecare@essencap.com

888-269-1033

 

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