NO DOC Texas INVESTOR MORTGAGE LENDERS USING DEBT SERVICE COVERAGE FOR INCOME
- Texas Qualification based on 100% DSC
- Up to 80% LTV
- Loan amount up to $5 million – or more
- 1-4 units, warrant able condos and non-warrant-able condos
- Cash-out permitted with just 90 days’ seasoning
- Start investing sooner with foreclosure, bankruptcy, deed-in-lieu, or short sale permitted
- Seasoned just 24 months with LTV/Reserve adjustments
- Seasoned 48 months at standard LTV and Reserves
If you recently purchased a Texas Cashout No Seasoning home and you are in need cash out immediately we can help. We approve borrowers all over FL Cashout No Seasoning without no seasoning FL Cashout No Seasoning cash out refinance mortgage. Our no seasoning FL Cashout No Seasoning cash out refinance can be used for debt consolidation, or for any other purpose, we have a no seasoning FL Cashout No Seasoning mortgage loan product as your solution.
Our no seasoning cash-out refinance mortgage offers TexasCashout No Seasoningexibility and variety so you can meet your needs: obtaining cash for other investments, reducing a rate and monthly payment, or use the cash for working capital.
Most importantly, there is no seasoning to ownership or the condition. If a property was just recently rehabbed, our lender will fund based on the new and improved value… and allow cash out based on that new value.
No Seasoning Texas Features & Highlights
- Increased loan limits to $3M
- Cashout Up to 75% Loan To Value!
- Credit score as low as 640
- Payment shock not calculated
- Cash out on 2nd home and NOO for borrowers with up to 15 financed properties
- First time home buyers allowed
- Cash out loans up to $2M
- 15 and 30 years fixed, 5/1, 7/1, 10/1 ARMs. Interest only available on ARMs*
- DTI up to 50%
- Gift Funds and Gift of Equity allowed (refer to guidelines)
- No ownership seasoning requirement for cash-out refinance
- Cash out from the subject may be used towards reserves
- Conforming, high balance and jumbo loans for borrowers with multiple financed properties
- Standard Fannie Mae full income and asset documentation required
- US Citizens, Permanent Resident Aliens and Non-Permanent Resident Aliens allowed
- Non-Warrantable Condominiums OK case by case!
SAME DAY APPROVALS! CALL NOW 954-667-9110
No Seasoning Cash Out Texas Cashout No Seasoningorida Mortgage Refinance
- Min 620 Fico
- 2 million Texas Cashout No Seasoningorida Max Jumbo No Season Cash out
- Must have been a cash purchase
- Source of funds used to purchase must be documented
- No liens exist on the subject property
This is a great way for Texas Cashout No Seasoningorida investors and buyers to leverage a cash offer initially and then untimely still finance their home with a home loan.
No Seasoning Refinance To Cash Out Texas Cashout No Seasoningorida
On a standard cash out Texas Cashout No Seasoningorida mortgage refinances, borrowers must wait out a full 12 months “seasoning” period (12 months must have passed after they purchased the home) before they could get a Texas Cashout No Seasoning TexasCashout No Seasoning cash-out refinance on a purchase. However, if a buyer paid cash for a home, they DO NOT have to wait 6 months.
A cash buyer can turn around do a cash out refinance the day after their cash purchase closes. Owner occupants, second/vacation home buyers can replenish their cash with a no seasoning cash-out refinance immediately following their purchase – now12 month seasoning wait!
No Seasoning Texas Cash out No Seasoning Cash Out Mortgage Refinance
Experienced Texas Cash out No Seasoning buyers and investors often pay cash for a property for a number of reasons. Largely because cash purchases present a critical advantage when buying a FL Cashout No Seasoning home in today’s market. Texas Cashout No Seasoning buyers that make all-cash offers can leverage a lower price and or can be more attractive than a competing financed offer.
The challenge in the past is that paying cash has tied up an investor’s liquid resources. This can limit an investors ability to leverage financing to strengthen their investment portfolio. It can also hijack opportunities to use cash for other interest-earning opportunities or just the comfort of having cash on hand.
Acceptable Sources of Cash for Initial Texas Purchase
On a no seasoning cash out refinance, a borrower can only pull cash back out of a recently purchased property if the cash used to purchase the property came from an acceptable source. Acceptable sources include:
- Cash from borrower’s own financial accounts
- Funds from a home equity line of credit
- Funds from a personal loan
First Off What is seasoning in the mortgage world? Seasoning in real estate usually refers to the length of time that a homeowner or investor has owned a particular home also known as title seasoning. Seasoning can also refer to the length of time a mortgage applicant has held a particular loan. Mortgage lenders usually have title seasoning requirements before they issue a home loan. WE HAVE Texas No Seasoning FOR INVESTORS!
- Asset Based Loans (NO Employment Verification, NO Income Qualification, NO DTI Calculations, NO Tax Returns or 4506 Required)
- 30-Day Seasoning on Refis
- No Sourcing or Seasoning of Funds
- Long-Term Buy & Hold Products (30-Year Amortizations)
- Portfolio Loans Available
- Close in Weeks, not Months
- Up to 80% LTV on Purchases and 75% on Refi Cash-Outs
- 640 Min. Credit Score
- Min. Loan Amount: $45K, Max Loan Amount: $2 million, depending on loan product
- Fix & Flip No Season Refinance
- Buy & Hold No Season Refinance
- Rate & Term No Season Refinance
- Cash Out No Season Refinance
- Bridge Financing No Season Refinance
- Two forms of ID
- Tri-merged credit report with at least two credit scores
- Appropriate insurance
- A title policy
- Voided check and the down payment (for purchases)
- An executed copy of lease (if property is occupied)
- An electronic asset verification of last two months bank statements.
DO YOU LEND TO BUSINESSES? Yes, we lend to LLCs, corporations, and limited partnerships provided ownership of the entity is not held by a trust. In addition to borrower requirements listed above, entities must provide corporate documentation. We do not lend to non-profits. We do not lend on properties held in trust. We do not lend to unregistered Series LLCs (SLLCs). All property/entity interest holders must sign a guarantee.
DSCR or Debt Service Ratio is calculated by dividing the monthly rent by the monthly principal, interest, property taxes, insurance and association dues, if any (PITIA). Property taxes include all city, county, school, municipal or other taxes related to the property. Insurance includes liability, casualty, rent-loss and flood, if applicable. We require “replacement cost” casualty insurance and rent-loss insurance. Please note that your monthly insurance expense may be higher than anticipated either because of our insurance requirements or because your property appraises for a higher value than the value at the time your previously obtained insurance.
Texas No Seasoning Investor Program Guidelines
- No minimum FICO requirements
- Stated income/bank statements only
- Loans up to 75% LTV
- Loan amounts $100,000 up to $5,000,000
- Lending to LLC’s, Trusts and Individual Borrowers
- Reserve requirement: Borrower to have 4 months interest payment reserves, down payment, closing costs, rehab funds
- Foreign national program
- We finance single-family residences, condos, 1-4 units, and apartment buildings
Texas No Seasoning Portfolio Mortgage Lenders Loan Programs- Experienced investors with growing portfolios can maximize their LTV after owning a property for only 3 months. Recycle your cash faster without proving
improvements! Restrictions apply – contact us for more information.
Texas No Seasoning Mortgage LendersAdditional Info
Minimum Property Value: $75K
Minimum Loan Value: $45K
- Texas No Seasoning Mortgage Lenders Portfolio Loans: $80K min. property value, $250K min. loan value.
- Texas No Seasoning Mortgage Lenders Single Asset loans: Add 112.5 BPs on loans under $75K; 75 BPs on loans $75K-$99,999. 5 bps-37.5 bps deduct on loans $200K+
- 24 Month I/0: $75K min. loan value $100K min. property value (mpv) f. $125K mpv for SFR properties and $75K mpv per unit for 2-4 unit properties Additional requirements and stipulations apply for LTVs above 75% and DSCRs <1.0.
Texas No Seasoning Cashout Investment Mortgage Lenders – Rates are calculated based on your middle credit score, the Loan-to-Value (LTV), and Debt Service Coverage Ratio (DSCR)Check out our various loan products and associated rates/guidelines below:
Texas No Seasoning Cashout For Rental Properties- Our Rental investor loan program is perfect for the professional investor looking to grow their portfolio of single-family rental properties. With a full 30 year term, no balloon payments and a choice of either a 5/1 ARM, 7/1 ARM or 30 years fixed interest rate structure, The Rental investor loan program enables professional investors to build wealth over the long-term by locking in competitive interest rates and eliminating the risk of forced sales or refinances.
Texas No Seasoning Rental investor loan program transparency is important to us- You can see right here how we determine interest rates. To read the rental investor loan program tables to find your estimated credit score in the left column. Then estimate your DSCR by dividing your expected monthly property rent by your expected principal, interest, taxes and association dues, and select the corresponding column. Then select your Rental investor loan program desired LTV. (For 7/1 ARM pricing, add 20 bps to the rates below. For 30 Year Fixed pricing, add 55 bps to the rates below.)
RENTAL Texas No Seasoning PORTFOLIO MORTGAGE LENDERS –Refinance on 3 to 10 properties with one closing and monthly payment: Our Investor RentalPortfolio+ loan allows you to refinance on 3-7 properties all at once. With just one closing and one monthly payment, it’s perfect for investors looking to simplify their portfolio. Available as a 5/1 ARM, 7/1 ARM or 30 Year Fixed. For loan amounts of: $400k or more, add 50 bps to the single asset rate (5/1 ARM shown above); $300k-$399k, add 112.5 bps to single asset rates; less than $300k, add 150 bps to single asset rates.
24 MONTHS Texas No Seasoning INTEREST ONLY MORTGAGE LENDERS- Payoff early with no prepay penalty: Texas No Seasoning Mortgage Lenders 24 Month Interest Only Bridge loan features no prepayment penalty nor DSCR requirements. Cash out on a property while it’s on the market so you can purchase your next investment without waiting for the other to sell.
POPULAR Texas CASHOUT LOAN PROGRAMS INCLUDE:
Texas Mortgage Lenders Loan Programs Include:
- Bad Credit Texas Mortgage Lenders
- NO SEASONING Texas Mortgage Lenders – Per Texas Lending Laws This Option Not Available In Texas !
- Self Employed Mortgage Lenders
- Stated Income Texas Mortgage Lenders
- VA Texas Mortgage Lenders – Per Texas Lending Laws This Option Not Available In Texas !
- Texas NO SEASONING Mortgage Lenders