Mixed Use - High Expense area - victory program to $5,000,00
Qualifying Ratios - None
You can qualify with a self-generated P & L . with "no-income ratios" or tax returns if you are operating the business portion of the property.
Note: This loan qualifys based on the rents and your stated cash flow.
Generally the P & L is to reference the last two years + year to date, however, on occasion, a shorter self-employment may be admissable.
Maximum Loan to Value is 75% for higher credit score borrowers
Minimum credit score 650 Scores below 650 may need
additional docs, ratios, and reduced LoanTo Values
Credit scores down to 500 on a case by case basis.
No Banking Relationship Needed!
Usually 3-6 months of post closing reserves are required. You do not need to open a specific depository bank account.