CONVENTIONAL
- Local Lenders familiar with the Jackson area and investment loans.
- Full Doc and Stated Programs
FINANCING OPTIONS
HARD MONEY
- Very Good to Excellent Credit Score required
- Up to Six month programs available
- Will lend to 65% of appraisal
- Standard terms, 5 points and 15% interest rate
- Pre Approval letter from conventional lender
OWNER FINANCING
- Limits out of pocket cash
- Refinance at higher appraised value
- $1500 downpayment
- Pre Approval Letter from conventional lender
- Two month financing
Sample Contracts
   Purchase
   Owner Financing
posiive cash flow properties
As a result of the recent financial crisis, FNMA, Freddie Mac, and the lenders have implemented stricter guidelines
in lending on investment properties. Gone are the days of stated income or stated assets and low down payment,
high LTV loans. In general, the conventional lenders are now requiring a minimum credit score of 680 with a 75%
LTV on purchases. The same credit scores and LTV are required for refinances, but generally 6 months seasoning
is required. In addition, FNMA recently adopted new rules that will allow investors to finance up to 10 properties with
a minimum credit score of 720, with certain minimum reserves, and other requirements.  
Irvine Hills, LLC has identified a select few lenders that will lend to investors on more favorable terms than
mentioned above. The following is a summary on several financing options:
10% DOWN - This is a two step process. The investment property is purchased through a hard money lender paying
10% down.There is a no points option with a 2.5% monthly interest charge. Once title is recorded, which is usually in one
week, the investor refinances the property with a conventional lender that does not require any seasoning and will lend
off the appraised value of the property usually at 75%. Since our properties can be purchased for less than 75% of
appraised value, there is no additional out of pocket on the refinance.

$1,000- $2,000 DOWN - This is also a two step process which is similar to the 10% down method. Irvine Hills, LLC sells a
property to an investor for only $1K-$2K down, depending on the property, and takes back a seller note. A closing is
done including preparation of a HUD-1 statement, change of title, and documents for the owner financing including a
note.  As with the 10% method, once title is recorded, which is usually in one week, the investor refinances the property
with a conventional lender that does not require any seasoning and will lend off the appraised value of the property
usually at 75%. Since our properties can be purchased for less than 75% of appraised value, there is no additional out of
pocket on the refinance.