Closed Loan in Trenton, NJ
Property Type: Mixed-Use (Tier 1)
Purpose: Purchase
Loan Amount: $339,500
LTV: 70%
Product: 5-Year ARM
Interest Rate: 8.500%
Loan Program: Investor No Doc Streamline
With no tax returns, bank statements, or operating statements required, the No Doc Streamline Program from Silver Hill Capital is the ideal alternative program for credit-worthy clients in need of greater flexibility.
Instead of reviewing personal income documentation, our team focuses on the FICO, LTV, and 3rd party consumer credit information to confidently approve commercial deals.
In this deal, the borrower was looking to purchase a mixed-use property in Trenton, New Jersey.
They were able to get the financing they needed at a competitive rate without having to provide the amount of documentation traditional lenders typically require for a commercial mortgage.
