Member Cameron
MemberForum Replies Created
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Check out the G-PA! Bridge ( GAP ) loan & let me know if you see this as a product that can benefit your hustle.
* Think of this as a 1-2 year term NO DSCR / Hard Money ( Minus the ” HARD ” ) loans you cant get approved DSCR *
* Fix & Flip without the Fix ( No Rehab Money included in LTV )
If you cant do DSCR you can most likely get funding going with this product for the reasons laid out below:
GAP PLATFORM ADVANCEMENT
A Bridge Loan for Purchase, R/T & Cashout rental properties 1-4 units :
• First time homebuyers – allowed
• NO PPP
• First Time Investors – allowed
• Living Rent free – allowed
• Up to 75% LTV
• Min FICO 650
• No tradeline requirements
• Multi-family OK
• Cash out to 65% LTV
• Foreign National- No credit references required.
• Short Term Rentals OK*
• NO Min DSCR Options
• Vacant units – allowed
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2 months seasoning for Down Payment ( from borrower ) & ( No seasoning ) on Gift funds used.
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in this case its a purchase & there is no seasoning 🙂 Any negative implications would be on the sellers part not new buyer regarding prepayment penalties per the agreement with their bank .
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Hey Gus,
if the property is financed we need 6 months.
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Hey Gus,
Please check out this post i did a few months back 🙂 it will show you eveyrhting you need.
we do 1-4 units for all NON-QM & DSCR &
We even do 5-8 units & 2-8 units Mixed Use for DSCR too 🙂
https://gcaforums.com/members/cleclair/activity/2361/?no_frame=1
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I dont…. typically that is something my business partners use but I do not personally have a need for Myself.
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that should be just fine
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Hey Gus,
I did, I sent him pricing & spoke to him about the file. He wants to make sure it ratios
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Hey Gus & Lisa,
Yes Lisa can be approved to sell DSCR products & originate in 40 states nationwide.
All we need is Lisa to have some type of company formed, LLC, Corp, Etc.
Does not need to have NMLS #