Expanded Investor Program Provides Innovative Financing Solutions
Expanded Investor By LendSure
Expanded Investor is LendSure’s innovative solution for property investors. At LendSure, we understand the unique needs and challenges of property investors. That’s why we offer unique solutions and common-sense underwriting designed to provide them with more options, great rates, and a smooth funding experiences.
- Unique rental income calculation resulting in lower DTIs and better rates (ask for a demonstration)
- Loan amounts up to $1,000,000
- Full Doc, Bank Statement, DSCR, Stated-Income and No-Ratio Loan options
- Industry-leading funding times
- Up to 10 loans for any one investor
- DTIs up to 50%
- Non-owner, non-warrantable condos permitted
- Highly competitive pricing for lower LTV loans
- Rate buy-down feature available
Expanded Investor Program Guidelines
Stated, self-employed & wage earner (not for first time investors)
LLC with personal guarantee. US citizens or Permanent Resident Aliens.
Debt Service Coverage Ratio
= Lower of Gross Rent lease or Form 1007/216 divided by PITIA
DSCR ≥ 1.15x for LTV ≥ 70%
No Ratio for LTV < 70% (Minimum FICO 640)
Rental Income Verification
Purchase: Market rents FNMA form 1007 for SFR & FNMA 216 for multi-units
Refinance: Market rents or lease with cancelled checks for 3 months
Maximum Cash Out
$500,000. Must be used for business purpose
Non-Owner Occupied. Certification of intent not to occupy is required.
$1,000,000 ≤ 75% LTV
$750,000 ≤ 80% LTV
Larger loan sizes case by case basis.
6 months PITIA
12 months PITI for borrowers owning more than 2 additional financed properties
Credit Event Seasoning
Bankruptcy, Foreclosure, Short Sale, Loan Modification: 36 Months
Sourced and Seasoned 60 days. No Gift Funds.
30-Year Amortized & Term – 5/1 or 7/1 Hybrid ARM or 30-Yr Fixed
All Loans require impounding for Taxes & Insurance
Index & Adjustment Caps
Margin: 6.95% Index: 1-Year LIBOR Floor: Start Rate
3.0% Initial Change Cap / 2.0% Annual Cap / 6.0% Life Cap
Higher of Note Rate or Fully Indexed Rate
Minimum Tradelines: 3 tradelines, at least 2 active
Tradeline History: 5 years
SFR / Condos / PUD / Townhome / 2-4 Unit.
No Texas properties > 10 acres.
Case by case basis
Prepay Penalty (Investor Only)
36 months Prepay, except in New Jersey