Dragon Realty Capital offers fully amortizing permanent loans on non-owner occupied single family properties in most states. These loans offer a variety of fixed rate terms and documentation choices. Features of these loans include:
- Borrower signed 1003.
- Borrower driver’s license.
- Borrower credit report.
- Borrower liquidity statements (6X monthly expenses).
- Management Experience Form or substitute docs.
- Evidence of Insurance (Liability, Hazard & Rent Loss).
- Borrowing Entity documentation.
- Existing Lease (refinances, only).
- Current Tax Bill.
- Purchase & Sale Agreement OR
- Recent Mortgage Statement/Payoff Demand.
- Preliminary Title Report.
Loan Size: $150,000 to $2,000,000 (we will consider loans greater than $2MM on a case-by-case basis).
Property Types: 1 to 4 unit SFRs, PUDs (warrantable & non-warrantable), condos, and un-leased purchases.
LTV: Up to 80%, subject to DTI limits.
Amortizations: 30 Year, Fully Amortizing; 3 Year I/O & 27 Year Fully Amortizing, or 5 year I/O & 5 Year Fully Amortizing.
Debt Service Coverage: Up to 90% DTI.
Minimum FICO*: As low as 650!
Prepayment Penalties: 3 year declining
Occupancy: Investment Only
Recourse: Full Personal
Eligible Borrowers: U.S. Citizens, Resident Aliens, Foreign Nationals (will require higher liquidity), & Legal Entities
Eligible Markets**: Urban & Suburban in primary, secondary and tertiary markets
Fees: $1,495 Administration, Processing & Underwriting
*Credit score requirements vary across programs, affecting LTV, rate, and points charged.
**Not all programs are available in all states.
Note: Rates and loan programs can change without notice.