• Reputation, or your credit. How well have you paid back other people? And that’s determined by the type of trade lines that you have on your credit, what your credit score looks like.

1. Capabilities or Income, We look at normally on a full-doc loan or on a bank statement loan. We can look at income a few different ways, though. We can look at it with tax returns, we can look at it with bank statements. For a cash flow loan, We can look at the income of the property itself, with the amount of income that it’s coming in as a rental for cash flow.

3. Financial support, which is your skin in the game, right, and that’s very important. So, back in 2008, you could buy a house with no money down.

Today, everybody else means an advance payment, very which have a traditional loan, can help you as little as step 3% off, 5% off.

Reserves is something that suggests what kind of cash/offers you have got left, when you made the downpayment and you can paid off your settlement costs.

1. Collateral, which is the property itself. What is the condition of the property, how many bedrooms and bathrooms, where is it located, is it on the beach or in the town or, is it on 10 acres, or is it a single-family residence or a condo or a duplex or 4 plex?

So, all of these 4 C’s are the basics for a no-doc loan. All would apply, except you would just take out capacity or the income piece.

Jackie Barikhan: Imaginable where investors exactly who purchase these types of fund… Read more “What i’m saying is, when you have a great 750 credit score, are you experiencing a beneficial 650 otherwise good 550?”