PROGRAM |
WS Hard Equity Program |
| Loan Purposes |
Permanent first mortgage loans for
Acquisition financings and refinancing. |
| Financing Size |
$200,000 - minimum
$2,000,000 - maximum |
| Term: |
6 mo., 1, 2,3, and 5 year fixed
(30 year amortization) |
| Loan to Value Ratio: |
Up to 80%
90% CLTV Available |
| Interest Rate: |
8.00%-12.50% |
| D.S.C.R.: |
1.20 |
| Collateral: |
First Mortgage, recourse loans.
Guaranties required. |
| Prepayment: |
5% for 5 years (typically) |
| Funding: |
Approximately 30-45 business days following execution of an application |
| Submission: |
The following documents are
required for our initial review:
- Submittal Form
- Credit Report (minimum fico 550)
- Completed 1003 Application
- Rent Roll Form
- Income/Expense Forms
|
Proposals will be quoted within 24-48 hours.
Nationwide Program |