Purchase Loan Parameters

 

This product is designed for investors with derogatory credit issues and high equity seeking individuals that needs quick and easy credit qualification. This product is one of the most sophisticated long or short-term loans with solutions available for purchasing multifamily properties for up to 30 years.

Legacy believes in making sure you have all the data possible to make informed decisions about your properties. Please find our key lending terms below.


General Guidelines

 

  • Loan Purpose: Purchase
  • Loan Amounts: $75K – $30M
  • Borrowing Entity: Single Purpose Entity
  • Credit Score 600 Minimum (Mid FICO)
  • Term/Amortization: 3,5,7,10,12,15, 20 and 30-year/ 30-year fully amortized loan

General Guidelines

 

  • Lending Locations: California & Nevada
  • 75% LTV
  • Foreign Investors: 65% maximum LTV
  • Quality: Class A, B, C, D
  • Property Types: Multifamily 5+ units, for example: Condos, Apartment Buildings, Dormitories/Group Quarters
  • Recourse: Yes, we can also go non-recourse to key principals with standard bad act carve-outs

For any questions or needs that you have that are not addressed within these lending terms, please contact us by phone or email dregiste@myhomelegacy.com or call (702)-680-0832, ask for Davy Registe.