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Essencap 30 year fixed 1 to 4 frailly investment property

Updated: Jan 23, 2022

Questions & Answers (Q & A)

Q: What are the types of fixed-rate commercial mortgage loans provided by Essencap Funding?

A: The following attribute types are applicable to our fixed-rate commercial mortgage:

Single-family house

2-4 unit attributes

Apartment, Townhouse (requires condo questionnaire)

Q: What type of fixed-rate mortgages does Essencap Funding provide?

A: Essencap Funding provides a fixed interest rate loan starting at 3.75%. All interest rates are based on the ratio of property income, expense, and personal credit. Contact us for more information. or 888-269-1033.

Q: What are the minimum and maximum loan amounts for fixed-rate mortgages provided by Essencap?

Answer: The minimum loan amount for Essencap is US$75,000*, and the maximum loan amount is US$2 million. Please inquire if the amount exceeds USD 2 million.

Q: How fast is the fixed-rate mortgage loan provided by Essencap Funding?

A: The entire underwriting process and closing are 2 to 3 weeks.

Q: What is the minimum FICO score for Essencap Funding commercial mortgage loan?

A: 660 FICO requirements.

Q: What type of documents are required for the mortgage loan of Essencap Funding?

A: Our view of things is completely different from that of banks. Essencap Funding will require the following documents to obtain a commercial mortgage.

  • Sales Contract

  • Credit Report

  • Appraisal report (real estate value, market rental value)

  • Personal financial statements

  • Entity / Corporation document

  • Lease contract

§ No tax declaration required

§ No CPA letter required

§ No employment letter required

§ No three-month deposit certificate is required

Q: Do you take a loan from a company or limited liability company?

A: Yes, we lend only to a company or limited liability company.

· Corporation


Q: Can Essencap Funding lend to the foreign citizens?

A: Our loan can be used for the following borrowers:

· US citizens

· Canadian citizens

· Permanent resident

· Foreign citizens

Q: Can I obtain funds for the residence I wish to live in permanently?

Answer: No. Essencap Funding provides only commercial loans for non-owner-occupied (invested) property.

Q: Is there a prepayment penalty?

A: Yes, the first year is 3% of the loan amount, the second year is 2% of the loan amount, and the third year is 1% of the loan. No prepayment penalty after year 3 and on

Q: Is Essencap Funding a bank?

Answer: Essencap is supported by hedge fund companies. Our funds come from various investment sources. Our loan documents are similar to banks. But decision-making and transfers are much faster.

Q: What are the fees for 30-year fixed-rate loans?

Answer: It is similar to a bank, real estate appraisal fee, credit check fee, title fee, local mortgage tax (if appliable), an origination fee for Essencap Funding

Q: Do we need a lawyer to close a loan?

Answer: If the local state does not require a lawyer , we can save you legal fees and allow the title company to transfer the account.

Q: Can Essencap funding lend in all 50 states?

Answer: No. North Dakota, South Dakota, Vermont. California, Nevada. , All other state loans we provide

Interest rate information**

Adjustments to above rates:

PDTI ≥ 75%: +0.25%

Loan Size < $100,000: or > $1,000.000 +0.25%

Condo, Townhome, 2-4 Unit: +0.125%

Cash-out: +0.25%

Rate reference is based on Feb 15, 2021

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