Current Rates Starting At: 5.75%

Program: Non-Owner Occupied, Multi-Family, No Income Verification

Borrowers looking to refinance N/O/O SFR, Condo and 2-4-unit properties can look to Barzel for some of the best rates in the Non-QM industry with our Business Purpose Program. Long term (30 years) loans with NO balloon payments and Interest only options are available.  Call to discuss – many options for prepayment privileges and impounding for your property taxes/insurance.

  • No Income Proof Needed
  • All Loans are N.I.V. (No Income Verified)
  • LTV up to 80%
  • No DTI Ratios
  • No DSCR calculated on residential collateral
  • Rates as low as 5.99%
  • Loan Amounts from $50,000 – $5,000,000
  • Lending to LLC’s, S-Corp, Trust or Individuals.
  • Property Types Include: SFR, Condo, 2-4 Units
  • Interest Only Option Available
  • Foreign Nationals – OK
  • 100% Gift Funds – OK

General Guidelines:


Area of Lending:

  • AL, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, KS, KY, LA, MA, MD, ME, MN, MO, MS, MT, NC, NH, NE, NJ, NM, NY, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV, WY (licensed broker required for AZ, KS, MO, MT, NE, OR & UT)

Lending in Chicago, Baltimore and Hartford on CBC basis only!

Occupancy:

  • N/O/O and Investment purposes
  • FTHB, Renters or borrowers that are “buying up” in value, size or property are not allowed on this

Property Types Residential:

  • SFR, Condo, Townhouse, 2 – 4
  • Available in all states listed
  • < 70% LTV must be located in populous area (no rural).
  • > 70% LTV must be located in metropolitan

Property Condition:

  • Property must show “Pride of Ownership”.
  • See Hard Money product for properties with deferred

Loan Terms:

  • 3, 5 and 7-year interim fixed variable rate 30 year fully amortized product Index – 6-month Libor – Margin 7.95 – Caps 2/1/6 – Floor = Start

Prepayment Protection:

  • Term of prepay protection – 3
  • Type of
    • Level 1 – 5% of loan amount standard
    • Level 2 – 6 months interest on 80% of the balance.

Rate Lock:

  • Rate floats until DOCS are ordered.

Loan Amounts:

  • $100k – $2 Million (A+, A and A- Grades).
  • $100k – $1 Million (B Grade).
  • $2.01M – $5M (A+, A credit only) Major metropolitan areas only & 2 Collateral should be located in an area where there is an abundance of recent comparable properties exhibiting both similar characteristics containing little to no adjustments & close proximity.

DSCR:

  • No DSCR calculated for Resi

Proof of Property Income is as follows:

  • Residential – Copy of leases.

Leases: All leases must be Arm’s length and at market rent

Lending to: Individuals | Corporations | LLC | LLP | Family Trusts

Ancillary fees paid through closing:

  • Residential
    • $1,495 Underwriting fee
    • $555 Doc fee per entity review

Barzel is Easy to Do Business With:

  • Gift Funds & Non-Seasoned Assets – Up to 70% LTV
  • NO 1040’s!
  • NO Schedule E’s!
  • NO 4506 Forms!
  • NO Impounds Required!
  • NO Income Stated
  • NO Income Verified
  • Appraisals Start @ $395!!! (average SFR in MMA)

See Our Hard Money Product for The Following!!

  • <600 FICOS
  • No prepay product
  • BK < than 1 year
  • Foreclosure < than 1 year
  • Properties w/ deferred maintenance
  • Loan Amounts < $100,000
  • Loan Amounts > $5,000,000
  • Properties not in Metropolitan areas