Whats A Low Doc Mortgage

 

Low Documentation Overview

Low - Doc is simply acquiring a loan with little documentation of regular income and assets that outweigh liabilities in the eyes of a lender. 100 Percent Financed looks to provide an opportunity for all to receive financing.
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Loan Type: Conventional
(Residential)
Low Doc Commercial
(Local)
Unit Range (1 Parcel): 2 - 4 2 - 4 2+
LTV (Loan Percentage): 75% 75% (80% if Purchase Price > 200k) 75 - 80%
Typical Loan Interest Rate: 4.5 - 5.5% 5.5 - 8% 4.5 - 5.5%
Amortization Rate: 30 Year fixed 30 Year fixed 20 years w/ recurring 5yr rate reset
Total Amount of Capital Needed (Down Payment, Soft Cost,Closing Cost,& Reserves): 32% of Purchase Price 32% of Purchase Price 32% of Purchase Price
Capital Source: Liquid (2 months seasoned) Liquid Liquid
Minimum Purchase Price: 75k+ Purchase Price 75k+ Purchase Price 20k+ Purchase Price
Prior Investment Experience Needed? No No Yes (in PA)
Documents Required: 2yrs Tax Returns or 12months W-2’s Proof of Funds 3yrs Tax Returns & PFS
Credit Score Minimum: 660+ 680+ 680+
Pre-approval provided? Yes No No
Loan Type:
Conventional
(Residential)
Unit Range (1 Parcel):
2 - 4
LTV (Loan Percentage):
75%
Typical Loan Interest Rate:
4.5 - 5.5%
Amortization Rate:
30 Year fixed
Total Amount of Capital Needed (Down Payment, Soft Cost,Closing Cost,& Reserves):
32% of Purchase Price
Capital Source:
Liquid (2 months seasoned)
Minimum Purchase Price:
75k+ Purchase Price
Prior Investment Experience Needed?
No
Documents Required:
2yrs Tax Returns or 12months W-2’s
Credit Score Minimum:
660+
Pre-approval provided?
Yes
Low Doc
Unit Range (1 Parcel):
2 - 4
LTV (Loan Percentage):
75% (80% if Purchase Price > 200k)
Typical Loan Interest Rate:
5.5 - 8%
Amortization Rate:
30 Year fixed
Total Amount of Capital Needed (Down Payment, Soft Cost,Closing Cost,& Reserves):
32% of Purchase Price
Capital Source:
Liquid
Minimum Purchase Price:
75k+ Purchase Price
Prior Investment Experience Needed?
No
Documents Required:
Proof of Funds
Credit Score Minimum:
680+
Pre-approval provided?
No
Commercial
(Local)
Unit Range (1 Parcel):
2+
LTV (Loan Percentage):
75 - 80%
Typical Loan Interest Rate:
Amortization Rate:
20 years w/ recurring 5yr rate reset
Total Amount of Capital Needed (Down Payment, Soft Cost,Closing Cost,& Reserves):
32% of Purchase Price
Capital Source:
Liquid
Minimum Purchase Price:
20k+ Purchase Price
Prior Investment Experience Needed?
Yes (in PA)
Documents Required:
3yrs Tax Returns & PFS
Credit Score Minimum:
680+
Pre-approval provided?
No

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How LOW DOC works for Investors

The Easiest Way to Acquire Cashflow

investor
BORROWER TYPE

Investor Only | Individuals, LLCs, Corporations and limited partnerships | U.S. Citizens; permanent and non-permanent resident aliens

check-list
PROPERTY REQUIREMENTS

PROPERTY TYPES: 1-4 unit, Single Family Residential, townhomes, condos. MIN PROPERTY VALUE: $75 (higher minimums in certain areas) PROPERTY CONDITION: C1-C4 (no deferred maintenance) *LEASE STATUS: leased or unleased; must be rent ready.

bank
LOAN TERMS

TERM/AMORTIZATION: 30 years (No Balloons) MAX LTV*: 80% Purchases; 75% Refinances

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