I see a lot of people asking about investment property scenarios. Since this and commercial deals are just about all I do, I thought I'd put the list of lenders that I currently on here for everyone's reference. If you know of a lender not on my list who is still offering good investment property programs, than feel free to add them on here.
Enjoy.
Aurora Lending Services (
www.aurorawholesale.com)
- 100% NOO Purchase, one lien, No PMI with 660 Full Doc/720 SIVA & NIVA
- Best rates I've found for lenders still offering this product.
ACT Mortgage (
ACT Mortgage Capital)
- 100% NOO Purchase, one lien, No PMI with 700 Full Doc/720 SIVA
- Rates are a little high, anything SIVA or less documentation will usually price at a cost to borrower.
National City (
National City Mortgage)
- 100% NOO Purchase, one lien or 80/20 with 680 Full Doc
- I haven't used these guys in a few months, so my information is outdated. They may have dropped this program. Rates were really high the last time I checked.
ABC Direct (
www.abconduit.com)
- 95% NOO Purchase (80/15) with 660 Full Doc/700 SIVA & NIVA
- 90 days title seasoning to use appraised value for cash out refinances to 95% CLTV with 660 Full Doc and to 90% CLTV with 700 SIVA/NIVA.
- Fixed Option ARMs for investment properties to 90% CLTV Full Doc and 80% LTV SIVA.
Washington Mutual (
Redirection to default page)
- Cash out refinances to 90% LTV, one lien or 80/10 with 680 Full Doc & 85% LTV with 680 SIVA.
- No title seasoning needed to use appraised value for cash out (Alt-A product line only).
- Allows borrower to have up to 10 properties financed. WAMU max exposure is 2 deals per borrower.
C&G Financial (
jumbosource.com)
- Jumbo only lender (min. loan amount = $300K)
- Allows NOO cash out with no title seasoning to use appraised value
*90% one lien to $500K with 680 SIVA
*80% one lien to $1.5 million with 680 SIVA
*70% one lien to $2.0 million with 700 SIVA
*75% (65/10) to $2.45 million with 700 SIVA
Tri Star Lending Group (
Tri-Star Lending Group)
- 95% NOO Purchase, one lien, No PMI with 700 Full Doc, 90% LTV with 660 NIVA/700 No Doc.
- 30 days seasoning on title to use appraised value for cash out refinance.
- 90% LTV one lien, CO refinance with 660 Full Doc
- 85% LTV one lien, CO refinance with 700 NIVA/No Doc
UBS Home Finance (
UBS Investment Bank)
- 95% NOO Purchase, one lien with 680 Full Doc
- No Title Seasoning needed for cash out refinance
- 90% NOO CO refinance, one lien with 680 Full Doc/SIVA/SISA/NIVA
- 80% NOO CO refinance, with 700 No Doc
- No limit on properties financed; UBS will finance up to 10 properties per borrower
- MTA and Hybrid Option ARMs to 90% LTV, one lien with a 680 Full Doc/SIVA (NOO Purchase)
- MTA and Hybrid Option ARMs to 80% LTV (NOO Cash out) with a 680 Full Doc/700 SIVA
- These guys are my lender of choice for NOO deals. Their average turn time for UW is about 24 hours (same for conditions) and I've got an excellent support team with them. Highly recommended.
Silver Hill Financial (
Silver Hill Financial - Public Home)
- Small Balance Commercial lender; Handles loans from $100K to $1.5 million
- Works with all types of properties, including gas stations
- Quick turn times for commercial lender
