An asset based loan program for Commercial and Investment SFR properties allows borrowers to obtain relatively high LTV financing while providing NO income documentation. All we need to quote is the property address, estimate of value, and a partially completed 1003 (see below).
This is a permanent loan with the following features:
- LTV: SFR Purchases to 75%, Commercial purchases to 70%. 5% reduction for Cash Out refinances.
- Term: 30 year Fully Amortizing.
- Loan Amount: $500,000 to $5,000,000.
- Pre-payment: The loan may be repaid up to 20% of the Principal Balance per year without penalty.
- Pre-Payment Penalty: 5%-4%-3%-2%-1% for the 1st 5 years. May be bought out prior to funding at 1% in fee per year reduction.
- Credit: Minimum 650 credit score for all guarantors.
- Rate: Starting at 7.99%, subject to market conditions.
- Geography: Nationwide with some exceptions. Call or email for current availability in your area.
- Closing: 30 days from receipt of Docusign intake package and appraisal fee.
- Fees: $2,500 at acceptance of Term Sheet, appraisal and environmental (commercial properties only) as quoted, underwriting and administration $2,995 and $750, respectively, payable at closing.
To request a quote, please complete a 1003 below as follows and send it back to Info@DragonRealtyCapital.com with the property address, type, and estimate of value:
- Page 1: Borrower Personal Information only.
- Page 2: LEAVE BLANK
- Page 3: ONLY complete the Schedule of Real Estate Owned at the bottom of the page.
- Page 4: Complete the Disclosures and sign.