Purchase, Rate-Term, Cash-Out ReFi
Hybrid Loans 5-Years, 7 Years
Rates: generally 6-9%*
Amortization: Up to 30 years
for Lowest Payment
No Balloon Notes!
Recent Rent Stabilization for Investment Properties O.K.****
Low DSCR: 1.10 or 1.15
Better than Banks*****
3-6 Months Reserves
We deliver what Big Banks can't. Relaxed underwriting guidelines for smoother, faster, more confident closings.*
$250,000 - $5 Million
Investor & Owner- Occupied
Property Types Tier I: Multifamily and Mixed-Use (Residential)
Property Types Tier II: Mixed-Use (Commercial), Office. Retail, Light Industrial, Self-Storage, Warehouse, Automotive, Mobile Home Park, Daycare Center, Restaurant, Bar
Eligible Markets: Top 200 MSAs, Non-Rural Areas
BEACON POINT MORTGAGE SOLUTIONS, LLC
6750 N. Andrews Suite #200 Fort Lauderdale, FL 33309
Stated Income Guidelines- Commercial Loans.
*Rates based on LTV, term, amortization, property type, and borrower’s credit. Generally closing within 2 weeks of receiving appraisal.
** Legal entities include corporations, LLCs, partnerships and trusts with majority ownership by U.S.
citizen or permanent resident alien. All principals with minimum 25% ownership interest must personally guarantee loan.
*** 10% LTV deduction for NY properties.
**** Rent Stabilization under most banking guidelines is 24 Months, under Beacon Point 90 days with 75% of property leased up.
*****Most Banks require Debt Coverage ratio of 1.2 for commercial properties.
******For Stated Owner-Occupied Program: Must be in Biz for 5 or more years, Min FICO score 725, Pass Lender's Experian Biz Check, Appraiser's Cap Rate dictates Loan Amount. Guarantor(s) are not required to provide personal or business tax returns to qualify for this program. Guarantor(s) may be eligible for a different loan program with more favorable terms if verifiable documentation such as personal and/or business tax returns are provided.
Declining Pre-payment Penalties: 5/4/3/2/1 for example on a 5 year hybrid.
Amortization: 20,25,30 years whereas most banks max at 20 years.
Loans are assumable upon Lender approval.
Multifamily and Mobile Home Parks do not apply to Stated Owner-Occupied program
Foreign Investors are excluded from this program, but may be financed under a different Beacon Point Program.
All rates and programs are subject to change at any time without prior notice. This program description is for use of real estate and mortgage lending professionals only and is not an advertisement under section of Regulation Z, and is not intended for use by the general public.