Globix Ultra - Investor's No Income Rehab/Construction Loan Programs
Contact us at (516) 779-1967

Loan Programs

Lending criteria Rehab Loans Construction Residential & Commercial Stated Income (Permanent Loans) Stated Income (Permanent Loans) Standard Construction Small Rehab Construction Borrower/Builder Construction Commercial Prooperties
Experience Yes Yes N/A N/A Well Seasoned Yes Yes No
Fico As low as 620 620 680 680 720 680 640 680
LTV Max @ 90% LTC, 70% LTV 60% of the appraised Value, Land Purchase included 70% 65% Max @90% LTC 70% LTV 100% of LTC 80% of LTV 90% of the Appraisal 75% of Lot Price 65% LTV
Occupancy Non Owner Non Owner/Spec/Builder Non Owner Non Owner Non Owner Non Owner Owner/None Owner Owner/None Owner
Rates 10% Call for Rate 5% to 7% 4% 4.375 (Libor +) 9% 4% to 9% 4.50%
Points/Fees 1.5 to 3 2.5 2.5 2.5 1.5 to 3 2.5 2.5 2.5
Property 1 to 4 Family 1 to 4 Family 1 to 4 Family Multifamily Multifamily 1-4 Family 1-4 Family 1-4, Multifamily
Type Condo Condo Condo 3 Family + commercials and most Commercials Condo Mixed used
Pre-pay Flexible None None None None
Penalty 3 to 9 Months Negotiable 5 Months 12 to 18 Months
Min. Loan $1,00,000 $1,00,000 $1,00,000 $1,00,000 $1M $1,00,000 $1,00,000 $1,00,000
Max. Loan $5M $2.5M $2.5M $2.5M $40M $3,50,000 42.5M $5,00,000
Term 12 to 18 months 12 months 3, 5, 8, 30 Years 3, 5, 10, 25 Years 12 to 24 Months 7 Months Extendable 12 Months Extendable 5 & 10 Years
Financials Not Required Required Not Required Not Required Required Not Required Required Required
Entity Single Asset or personal Single Asset personal Single Asset or personal Single Asset or personal Single Asset Single Asset Personal Single Asset Personal Single Asset Personal
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Mortgage
Yes Yes Yes Yes Yes Yes Yes No
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