5-8 Unit Multi-Family
Credit scores starting at 660 | Up to 75% LTV, No MI
5-8 Unit Multi-Family properties are made up of multiple units sometimes zoned for different uses, including residential and commercial. Any building with at least two units of different usage qualifies for mixed-use financing. Our DSCR program for 5-8 Unit Multi-Family and 2-8 Unit Mixed-use properties offers your investors an easy option to purchase or refinance a building. NewPoint Mortgage offers both 30 year Fixed and 5/6 ARM options for these properties. This program allows your investors to qualify based on the rental analysis to determine the property cash flow. No personal income required to qualify. This saves you from submitting complicated income statements and tax returns.
- Up to 75% LTV (Loan To Value)
- Employment & Income not listed on 1003
- Minimum loan amount $400,000.
- Loan amounts up to $2,000,000
- Cash Out up to $1,000,000
- Investment Properties Only
- Investors can qualify with a credit score as low as 660 Up to 70% LTV
- Foreign National up to 70% LTV
- 6 Months (PITI) Reserves are required (Principal, interest, taxes and insurance)
- No Minimum tradeline requirement if borrower shows three scores
- Reserves for other financed properties not required
- OK to use Cash Out proceeds for reserves
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