-Our primary focus is performing pools of residential 1st
-No pool too large or too small
-No geographical restrictions
Residential Loan Criteria
Loans of interest:
-Scratch and Dent (anything we think will continue paying in the future)
-Max LTV 105%, if Investment or unique property type Max LTV 80%
-Min loan size $10k
-Max loan size $2MM
-Prefer credit score of 620+, we will consider lower if LTV and other loan characteristics
-We are ok with factors such as stated income, prior BK, mobile homes, etc.
-Prefer no interest only
-Prefer amortizations under 360
-Prefer a few years of seasoning, only one month is required.
Commercial Loan Criteria
-Debt service ratio of 1.2 or higher
-Recent financials are required
-Prefer LTV less than 70%
-Prefer a few years of seasoning
liens with 0x30 for 24 months from the modification
offset the credit risk associated with lower credit scores.
liens, very very clean pay history required, we will consider commercial
non-performers in the Lansing and Grand Rapids, Michigan markets.