NO MONEY DOWN** PORTFOLIO EXPANSION LOANS

LENDERLINE® is currently offering no money down** portfolio expansion loans to investors who have sufficient equity in their existing portfolio.

In today’s lending climate it may be difficult, or even impossible, to tap the equity from an investor’s existing portfolio for the purpose of acquiring even more rental property. To the contrary, our no money down loans** encourages this, by cross-collateralizing an investor’s existing portfolio and the newly acquired property under one blanket mortgage, so as to use existing equity in lieu of a cash down payment to expand their portfolio.

The primary lending criteria for our portfolio expansion loans is based on the cash flow of the properties being financed, from which we will calculate the debt service coverage ratio (DSCR). At lower loan-to-values, the property may not be subject to DSCR limitations, and the loan may be made strictly upon the loan-to-value.

For a general overview of how our portfolio expansion loan program works, see the examples below.

 

Example 1: An investor owns a 12-unit property with a current market value of $1,000,000, which is owned free and clear. The investor wishes to purchase three additional 12-unit properties with a value of $3,000,000 using no money down. **A new $3,000,000 (75% LTV) blanket mortgage would be used to encumber both the existing property and the three new properties being purchased, which have a combined value of $4,000,000, thus allowing the investor to expand their portfolio by three additional 12-unit properties using no money down, by using their existing equity in lieu of a cash down payment.

 

Example 2: An investor owns a 12-unit property with a current market value of $1,000,000, which is encumbered with a mortgage with a $500,000 balance. The investor wishes to purchase one additional 12-unit property with a value of $1,000,000 using no money down. **A new $1,500,000 (75% LTV) blanket mortgage would be used to encumber both the existing property and the new property being purchased, which have a combined value of $2,000,000, and the existing $500,000 mortgage would be paid off from the blanket mortgage proceeds, thus allowing the investor to expand their portfolio by one additional 12-unit property using no money down, by using their existing equity in lieu of a cash down payment.

 

Properties may be located in AL, AR, CO, CT, DC, DE, GA, IL, IN, IA, KY, LA, ME, MD, MA, MI, MO, NH, NM, OH, OK, OR, PA, SC, TN, TX, VA, WA, WV, WI, WY. CA is coming soon, please inquire.

  • Up to 75% LTV blanket mortgage.
  • Debt service coverage ratio (DSCR) of only 1.15.
  • 15% of gross rent used as vacancy and expense factor.
  • No tax returns or 4506-T.
  • Minimum 650 middle credit score for at least one borrower.
  • $700,000 minimum loan amount.
  • No maximum loan amount.
  • SFR, PUD, condo, townhouse, 2-4 units, multifamily apartments allowed.
  • 7-door minimum (any combo, such as 4-unit + 3-unit, or 7 separate SFR).
  • 20-door maximum per assessor parcel number.
  • No limit on number of units financed per investor.
  • 30-year amortization.
  • 5-year or 10-year balloon.

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LENDERLINE® is your no money down** portfolio expansion lender of choice.

Questions? For today’s no money down mortgage rates, or to receive a FREE consultation CALL LENDERLINE® toll-free at 1-888-661-7888.

100% LTV USDA Construction-To-Permanent Loans

LENDERLINE® is currently offering 100% LTV USDA loans for rural properties located in the State of California.

  • The property must be located in the State of California.
  • The property must be in a USDA eligible area, look up here.
  • USDA income limits apply, look up here.
  • 100% loan-to-value. Requires no down payment.
  • You choose your own architect, building design and building contractor.
  • This is a one-time close mortgage which includes construction and permanent financing.
  • Closing costs may be paid by the seller up to 6% of the purchase price.
  • Closing costs may be gifted from an immediate family member.
  • One-time USDA guarantee fee may be financed.
  • Minimum credit score of 620. Manual underwriting not permitted.
  • First-time homebuyers OK.
  • The borrower cannot own any other properties.
  • The property must be used as a primary residence.
  • Second homes and investment properties not allowed under this loan program.
  • W-2 wage earner or self-employed.
  • SFR, PUD, modular homes and multi-width manufactured homes allowed.
  • Working farms, condominiums/townhomes, and 2-4 unit properties not allowed.
  • No reserve requirements.
  • Debt-to-income ratios cannot exceed 29/41%, or 32/44% with compensating factors.
  • Borrowers must be U.S. citizens or permanent residents with valid work authorization.
  • No foreign nationals or undocumented ITIN workers allowed on this program.
  • 30-year fixed rate.
  • No prepayment penalty.

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LENDERLINE® is your 100% LTV USDA construction to permanent lender of choice. 100% LTV USDA loans are our specialty. USDA mortgages allow you to do construction-to-permanent loans.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

USDA 100% LTV Rural Property Loans

LENDERLINE® is currently offering 100% LTV USDA loans for rural properties located in the State of California.

  • The property must be located in the State of California.
  • The property must be in a USDA eligible area, look up here.
  • USDA income limits apply, look up here.
  • 100% loan-to-value. Requires no down payment.
  • Closing costs may be paid by the seller up to 6% of the purchase price.
  • Closing costs may be gifted from an immediate family member.
  • One-time USDA guarantee fee may be financed.
  • Minimum credit score of 580.
  • Credit scores down to 550 possible with extenuating circumstances.
  • 3 non-traditional credit references required if borrower has no credit scores.
  • First-time homebuyers OK.
  • The borrower cannot own any other properties.
  • The property must be used as a primary residence.
  • Second homes and investment properties not allowed under this loan program.
  • W-2 wage earner or self-employed.
  • Single family residence, PUD, or HUD-approved condominiums allowed.
  • Working farms and 2-4 unit properties not allowed.
  • No reserve requirements.
  • Debt-to-income ratios cannot exceed 29/41%, or 32/44% with compensating factors.
  • Borrowers must be U.S. citizens or permanent residents with valid work authorization.
  • No foreign nationals or undocumented ITIN workers are allowed under this program.
  • 30-year fixed rate.

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LENDERLINE® is your 100% LTV USDA lender of choice. 100% LTV USDA loans are our specialty. USDA mortgages allow you to purchase rural properties for no money down.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

Subprime Loans With No Reserve Requirements

LENDERLINE® is currently offering subprime mortgages with no reserve requirements, under the following guidelines:

  • The property must be located in the State of California.
  • Credit scores as low as 500.
  • No reserves required.
  • Gift funds allowed for entire down payment and closing costs.
  • Bankruptcy seasoning as low as 1 day.
  • Foreclosure seasoning as low as 1 day.
  • Deed-in-lieu of foreclosure seasoning as low as 1 day.
  • Short sale seasoning as low as 1 day.
  • Self-employed or W-2 wage-earners.
  • W-2s and pay stubs only for wage-earners.
  • 2 years tax returns and year-to-date profit and loss for full-doc self-employed.
  • 24 months business or personal bank statements for alt-doc self-employed.
  • Purchase, rate and term, or cash out refinance.
  • Primary residence, second home or investment properties.
  • SFR, PUD, condo, townhouse, condotel, rural properties and 2-4 units allowed.
  • US citizens, permanent residents and ITIN workers allowed.
  • Up to 50% debt-to-income ratio.
  • $75,000 minimum loan amount.
  • $5,000,000 maximum loan amount.
  • 5/1 ARM, 7/1 ARM or 30-year fixed rate available.
  • All loans require impounding of property taxes and hazard insurance.
  • Interest-only option available (see underwriting guidelines and pricing adjustment).
  • No prepayment penalty.

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LENDERLINE® is your subprime loans with no reserve requirement lender of choice. To apply for subprime loans with no reserve requirement call us today.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

Stated Income Verified Asset Investor Loans

LENDERLINE® is currently offering stated income verified asset investor mortgages, under the following guidelines:

  • Property must be located in the State of California.
  • Income is stated but not verified (see underwriting guidelines).
  • Wage earners or self-employed borrowers allowed.
  • Verbal verification of employment with no reference to income required for wage earners.
  • Current plus past 2 years’ business or professional license required for self-employed.
  • CPA letter may be used to verify self-employment in lieu of business or professional license.
  • No paycheck stubs.
  • No W2s.
  • No tax returns.
  • No 4506-T.
  • Up to 75% loan-to-value (see underwriting guidelines).
  • US citizens and US permanent residents allowed.
  • Foreign national allowed to a maximum of 70% loan-to-value.
  • Credit scores as low as 500 allowed.
  • $100,000 minimum loan amount.
  • $5,000,000 maximum loan amount.
  • Non-owner-occupied or business purpose properties only.
  • Primary residence or second homes are not allowed on this program.
  • Purchase, rate and term, or cash-out refinance.
  • SFR, PUDs, condos, townhouses, and 2-4 unit properties.
  • For sale by owner transactions are not allowed.
  • Maximum debt-to-income ratio is 50%.
  • No reserves required.
  • Gift funds allowed for down payment and closing costs.
  • Impounding of property taxes and hazard insurance is required.
  • Available only as a 5/1 ARM or 7/1 ARM, with a term of 30 years.
  • All loans require impounding of property taxes and hazard insurance.
  • Interest-only option available (see underwriting guidelines and pricing adjustment).
  • No prepayment penalty.

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LENDERLINE® is your stated income verified asset lender of choice. We offer stated income loans in California. Get a stated income mortgage, also known as a SIVA loan, today.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

Stated Income Verified Asset Consumer Loans

LENDERLINE® is currently offering stated income verified assets consumer loans, under the following guidelines:

  • Property must be located in the State of California.
  • Income is stated but not verified (see underwriting guidelines).
  • Wage earners or self-employed borrowers allowed.
  • Verbal verification of employment with no reference to income required for wage earners.
  • Current plus past 2 years’ business or professional license required for self-employed.
  • CPA letter required for self-employed verifying business ownership and filing of tax returns.
  • Borrowers that file their own tax returns are ineligible.
  • Credit report must show current employer.
  • No paycheck stubs.
  • No W-2s.
  • No tax returns.
  • No 4506-T.
  • Up to 60% loan-to-value (see underwriting guidelines).
  • Minimum 680 credit score.
  • $100,000 minimum loan amount.
  • $2,500,000 maximum loan amount for 1-unit PUD & SFR.
  • $1,500,000 maximum loan amount for 2-4 units.
  • $750,000 maximum loan amount for condominiums.
  • Primary residence, second home or investment properties.
  • Purchase or rate and term refinance.
  • Cash out refinance not allowed.
  • SFR, PUDs, condos, townhouses, and 2-4 unit properties.
  • For sale by owner transactions are not allowed.
  • Maximum debt-to-income ratios are 38/43.
  • Reserves of 12 months PITI required.
  • US citizens and US permanent residents allowed.
  • Gift funds allowed on certain transactions. See underwriting guidelines.
  • Reserves must come from borrower’s own funds on all transactions.
  • Impounding of property taxes and hazard insurance not allowed.
  • Available only as a 7/1 ARM, fully amortized, term of 30 years.
  • No prepayment penalty.

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LENDERLINE® is your stated income verified asset lender of choice. Stated income loans, also known as SIVA loans, are back. Call today, and get your stated income loan California.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

Small Business Administration Loans

LENDERLINE® is currently offering SBA loans for the following types of transactions:

  • Purchase
  • Refinance
  • Rehabilitation
  • New Construction

There are several types of SBA loan options, including:

  • 7(a) Loan Program. This is the SBA’s primary program to help startups and existing small businesses obtain financing. 7(a) loans are the most basic and most commonly used type of loan, as well as the most flexible. The money can be used for a variety of general business purposes, including working capital, machinery and equipment, furniture and fixtures, purchasing or renovating land and buildings, leasehold improvements and debt refinancing. Loan maturity is up to 10 years for working capital and generally up to 25 years for fixed assets.
  • CDC/504 Loan Program. This program provides businesses with long-term, fixed-rate financing for major assets, such as land and buildings. The loans are typically structured with the SBA providing 40 percent of the total project costs, a participating lender covering up to 50 percent and the borrower putting up the remaining 10 percent. Funds from a 504 loan can be used to purchase existing buildings, land or machinery, and to construct or renovate facilities. These loans cannot be used for working capital or inventory. Under the 504 program, a business qualifies if it has a tangible net worth of less than $15 million and an average net income of $5 million or less after federal income taxes for the two years before application. The maximum amount of a 504 loan is $5 million.
  • Microloan Program. This program offers very small loans to startups, or newly established or growing small businesses. The loans can be used for working capital or the purchase of inventory, supplies, furniture, fixtures, machinery or equipment. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit organizations with experience in lending and technical assistance. Those intermediaries then make loans of up to $50,000, with the average loan being about $13,000. The loan cannot be used to pay existing debts or to purchase real estate.
  • Disaster Loans. The SBA offers this option to businesses that have been affected by a declared disaster. These low-interest loans can be used to repair or replace damaged real estate, personal property, machinery, equipment, inventory and business assets.

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LENDERLINE® is your SBA lender of choice. SBA loans, also known as small business loans, are made by private lenders and insured by the Small Business Administration.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

Reverse Mortgages

LENDERLINE® is currently offering reverse mortgages under the following guidelines.

  • The property must be located in the State of California.
  • One borrower must be at least 62 years old.
  • No repayment required as long as you use the property as your primary residence.
  • Use loan proceeds for any purpose.
  • Condos/PUDs must be FNMA-approved, look up here.

What is a reverse mortgage? A reverse mortgage, also known as a HECM loan, is a mortgage that does not require monthly payments for as long as you occupy the subject property.

There are several reverse mortgage options available, including:

  • Tenure. Fixed monthly payments for as long as you live in your home as your primary residence. The amount received each month will not change, even if the home decreases in value.
  • Term. Fixed monthly payments for a specific period of time. For example, a borrower is 65 and wishes to defer collecting Social Security until age 72 to receive maximum benefits, so the borrower establishes a term payment for 7 years. The amount received each month will not change, even if the home decreases in value.
  • Line of Credit. A standby line of credit that is accessed when funds are needed. An important feature of the line of credit is that the unused portion grows over time. The borrower is not earning interest, like with a checking account. Rather, the growth feature takes into consideration that you are one year older and that your home has appreciated in value.
  • Single Disbursement Lump Sum. A one-time lump sum payment is made to the borrower. If the borrower wants more money at a later time, he or she will have to refinance and get a new reverse mortgage.
  • Modified Tenure / Line of Credit. Under this option, the borrower establishes a line of credit and receives fixed monthly payments for as long as they live in the home as their primary residence.
  • Modified Term / Line of Credit. Under this option, the borrower establishes a line of credit and receives fixed monthly payments for a specific period of time.
  • Purchase. The new home is purchased using funds from the sale of another home, savings, gift funds or other assets, which are combined with the reverse mortgage. This leaves you with no monthly mortgage payment.

Ask about our no closing cost option.

For more information about reverse mortgages click here to visit the Fannie-Mae information page. To use the HUD website to find a reverse mortgage (HECM) counselor near you, click here.

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LENDERLINE® is your reverse mortgage lender of choice.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

Residential Construction Loans

LENDERLINE® is currently offering residential construction real estate loans for 1-4 unit residential properties located in the State of California, and for multifamily and commercial properties located anywhere in the United States. Purchase, refinance, rehabilitation, new construction. The types of properties we finance include:

  • SFR, Condo/Townhouse, 2-4 Units – California only.
  • Apartment
  • Condominium
  • High Rise
  • Multifamily
  • Land Development
  • Subdivisions

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LENDERLINE® is your residential construction mortgage lender of choice. Residential construction loans are our specialty.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

REO Purchase Loans

LENDERLINE® is currently offering REO purchase mortages for 1-4 unit residential properties located in the State of California, and for multifamily and commercial properties located anywhere in the United States (including Puerto Rico, the Virgin Islands, and Guam). Purchase, refinance, rehabilitation, new construction.

  • Up to 80% LTV.
  • No minimum credit score.
  • No seasoning of down payment.
  • Full or reduced documentation.
  • SFR, condo/townhouse, 2-4 Units – California only.
  • Rehabilitation projects allowed.
  • Foreign nationals allowed.
  • Recent foreclosure, bankruptcy or short sale OK.
  • Make sense underwriting.
  • High rise or low rise.
  • Multifamily projects.
  • Subdivisions.
  • Land development projects.
  • Loan amounts up to $100,000,000.

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LENDERLINE® is your REO purchase lender of choice. Call us today to receive our free daily mortgage rates.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.