David Diaz- Mortgage Lender
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200+ Lenders, Thousands of loans FUNDED since 2002
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|PROPERTY TYPES||1-4 family homes (primary residences, second homes, investment properties), Condos, Co-ops, multifamily and some commercial real estate assets (some mixed-use with no more than 25% of the SF comprised of retail)|
|LOAN TERM||Typically, 30 years (shorter terms available)|
|AMORTIZATION||Typically, 30-year schedule|
|INTEREST ONLY PERIOD||Up to 5yrs initial IO|
|LOAN TO VALUE||Up to 70% LTV|
|PREPAYMENT||Typically, no prepayment penalty|
|BORROWER CREDIT SCORE||Minimum 650 FICO Score (exceptions on a case-by-case basis)|
|BORROWER DEBT-TO-INCOME RATIO||100% or greater DTI for Business Purpose and investment property loans. DTI calculated using all income sources, including alternative income. Typically, 50% or below for primary residences.|
|BORROWER CASH OUT||No maximum|
|SECURITY||First mortgage lien with borrower recourse|