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30 Year Rental Program

 RENTAL PROGRAM

Property Type:

SFRs, 2-4 units, condos, townhomes,

PUDs

Transaction Type:

Purchase or refinance

Interest Rates:

7% to 9%

(varies based on LTV and FICO)

Loan Amount:

Up to $2,000,000 ($75,000 minimum)

Loan-to-Value:

Up to 75%

Cash Reserves:

None required

Income Requirements:

None

-No personal debt-to-income (DTI)

-No property debt-to-income (DTI)

Loan Term:

30 years

Loan Structure:

3/1 ARM, 30 year amortization

5/1 ARM, 30 year amortization

Minimum FICO:

640

Vacancy:

Permissible

Foreclosures:

None in the past 2 years

Bankruptcies:

None in the past 3 years

Prepayment Penalty:

3/1 ARM - 3 years declining (3%/2%/1%)*

5/1 ARM - 5 years declining (5%/4%/3%/2%/1%)*

*with option to buydown

WELLSPRING MORTGAGE AND INVESTMENTS, LLC - Company NMLS 1278395 NMLS #257619
8951 Cypress Waters Blvd Suite 160, Dallas, TX  75019
Office:  (214) 210-8133
Fax:  (469) 716-4020
cwilburn@wellspringmortgage.com
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