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100% CLTV Program Flyer

This is a very special program that is not offered with many other Mortgage Companies. Please read the details of this program to get a better understanding and to see if this program is a good fit for you.

Note: This program is subject to change at any given time; feel free to check this site periodically to updates.

100% CLTV PPROGRAM:

CLTV means Combined Loan to Value. Using this program, Investors will do a 1st lien up to an LTV percentage, the Seller will do a 2nd lien up to an LTV percentage and if anything is left, the Borrower would pay the rest as a down payment. If nothing is left, the Borrower would get 100% financing plus closing cost.

There are 4 different CLTV Splits:

  • 80% Lender
  • 10% Seller
  • 10% down for Borrower
    • 100% CLTV
      (Sales price $625k & Under)
  • 75% Lender
  • 15% Seller
  • 10% down for Borrower
    • 100% CLTV (Sales price $626k & Up)
  • 70% Lender
  • 15% Seller
  • 15% down for Borrower
    • 100% CLTV
      (Sales price $500k & Up)
  • 50% Lender
  • 50% Seller
  • 0% down for Borrower
    = 100% CLTV
    (Sales price $2M & Up)

The CLTV Splits are based on your credit, property location and sales price so getting approved for PhoneOps 100% CLTV program is needed in order to know what you qualify for.

100% CLTV PROGRAM IS AVAILABLE NATIONWIDE!!!

 10% DOWN PAYMENT:

The standard down payment for commercial properties ranges from 25% to 35% depending on credit, the property and if its already income producing. No matter what anyone say, putting 10% down is extremely better than putting 25%-35% down so this is still a great opportunity.

Keep in mind, putting 10% down provides a higher LTV on the Lender side and a lower LTV on the Seller side. Some Sellers have mortgages and doing a higher Seller 2nd wouldn’t clear their mortgage so they will deny doing the 2nd. 95% of Sellers would do a 2nd if the 2nd is only 10%-15% for 12 months.

TODAY’S REAL ESTATE MARKET:

Most potential homeowners are forced to rent because nowadays, the interest rates are much higher than normal; it’s messing up their DTI making them to not qualify for a home mortgage so is it a Buyer’s Market? NO!

Sellers are listing their properties but if no Buyers are available to purchase them, does this make it a Seller’s Market? NO!

At this point, it is a Landlord’s Market so now is the time to purchase more than ever as more renters are in need of rental housing.

Properties Allowed:

Rentals 1 – 50+ units
Mix Use 2 – 50+ units
Commercial Properties

Properties Not Allowed:

Owner Occupied
Properties On the MLS
Properties that need extreme repair

GUIDELINES ON 1ST LIEN:

View the guidelines based on the CLTV Split below:

For 80/10/10 Split

(10% Down Payment)

  • MIN FICO: 620 & up
  • Loan amount: $100K to $500K
  • Rate: 9% to 15%
  • Term: 30yrs – 1st 10yrs I/O
  • Lender Appraisal

For 75/15/10 Split

(10% Down Payment)

  • MIN FICO: 650 & up
  • Loan amount: $100K to $25M
  • Rate: 9% to 15%
  • Term: 30yrs – PITI
  • Lender order Appraisal

For 70/15/15 Split

(15% Down Payment)

  • MIN FICO: 600 & up
  • Loan amount: $500K to $7M+
  • Rate: 8% to 12%+
  • Term: 25yr – 30yr
  • Lender order Appraisal

For 50/50 Split

(No Down Payment)

  • MIN FICO: 500 & up
  • Loan amount: $1M to $50M+
  • Rate: 12% to 18%
  • Term: 1yr – Interst Only
  • No outside Appraisals

Download the full Guidelines to better understand if your project is a good fit:

MINIMUM REQUIREMENTS:

  • A Social Security card WAIVED
  • Must have a Checking Account
  • A valid Driver’s License or State ID
  • A Tri-Merge Credit Report fee of $57
  • Must be able to show proof of closing cost

100% CLTV – Checklist

  • 3 Months of Recent Bank Statements (all pages – most recent statement must show proof of down payment if putting 10% down and closing cost)
  • Agreement of Sale with Seller 2nd Addendum
  • Articles of Incorporation, EIN & signed Operating Statement
  • Business Purpose Cert (See Attached)
  • CD Contact Form (see attached)
  • Disclosures (It will be emailed to you)
  • Driver’s license or State ID (Must be color for verification purposes)
  • Guarantor Form (see attached)
  • Personal Financial Statement (see attached)
  • Real Estate Owned (see attached)
  • Rent Roll for Subject Property (see attached)
  • Social Security card

Here are the steps moving forward

  1. Subject Property Address in Subject Line when sending back the documents.
  2. Budget of project, purchase price, or Loan Amount.
  3. After Repair Value if Fix and Flip or Current Value if DSCR / Refinance.
  4. Down Payment -Bank Statement or Statement for down payment if applicable.
  5. Check your credit scores here: / send or upload a copy of the report and all scores.
  6. Please send me a copy of your credit report with scores and the attached documents.
  7. Please see the attached loan application, credit authorization and all documents needed to move forward.

Send all documents on checklist to: info@myfundingmentor.com

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