FAQ – Frequently Asked Questions…
Are upfront fees, tax returns or income verification required?
ANSWER: No
Are appraisals required?
ANSWER: Yes
What property types do you finance?
ANSWER: Business purpose: residential, multifamily, mixed-use, self-storage, and NNN Net Lease fast serv restaurants, retail, and others…
What loans do you offer?
ANSWER: Cash out, refinance, purchase, rehab, and ground up construction.
Where do you lend?
ANSWER: Nationwide except AK, AZ, HI, ND, SD, and VT (no Rural Propety)
What is a DSCR rental loan?
ANSWER: approved mostly on property numbers; not your personal income and tax returns.
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Are your interest rates competitive?
ANSWER: Yes
Are rehab and construction loans interest paid on drawn balance?
ANSWER: Yes
Do you have rate locks?
ANSWER: Yes!
Are there prepayment penalties?
ANSWER: Not for bridge, rehab and construction…
How much can I borrow?
ANSWER: $250,000 to $20+million per property depending on loan program
What are your loan terms?
ANSWER:
- 6-to-24 months (bridge, rehab, and construction)
- 30-year-fixed, interest only, or 5/7/10 Year ARMS for rental loans
Do you finance home mortgages?
Answer: No
How long to close?
ANSWER: 2 to 5 weeks
How much experience required?
ANSWER: varies by loan program
What credit score required?
ANSWER: 660+
Do you report to credit bureaus?
ANSWER: No
Do loans close in my LLC or corporation name?
ANSWER: Yes
Can I finance vacant property rentals?
ANSWER: Yes, if completed and rent ready.
Are foreign nationals eligible?
ANSWER: YES
Do you work with mortgage brokers?
ANSWER: Yes, if qualified.
Can I close faster?
ANSWER: Loans close fast if you quickly return doc requests. Some programs close 2 weeks faster if you pay $1000 with application.
How to get GET STARTED?
ANSWER: Please click PRE-APPROVAL LINK, email info@eaglecfs.com, or call 856-353-3430 to discuss.
