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      Bennett Capital Parnters Condo Program Highlights

CONVENTIONAL LOANS

  • Warrantable condos allow 3-5% Downpayments ($715,000 Max Loan Amount)

  • All condos on our Approved Warrantable list are eligible for 3-5% down

  • Refinance & Refinance cash-out programs allowed

  • Condos on our approved list do not require a condo questionnaire saving time and money!

  • We can beat banks on rate and close in 2-3 weeks on average

  • Limited Review Combo Program

    • Purchase, Refinance, and Cash Out Refinance Allowed 

    • First Mortgage with Fannie Mae up to $715,000

    • Piggy Back HELOC offered up to $500,000 (Automatically approved with the 1st mortgage)

    • Max Combined Loan Amount = $1,215,000 ($715K 1st + $500K HELOC)

    • Allows for 10% down limited review on $1,350,000 Purchase Price 

    • Limited reviews require no condo association budget review

  • We pre-review all condos before submission.

  • We are approved wholesale brokers with the top 10 conventional lenders. 

  • We have a 100% close rate on condo purchases year to date.

PORTFOLIO JUMBO LOANS

  • We have wholesale agreements with many Community, Regional, and National Banks 

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash-out limits

  • Warrantable & Non-Warrantable Condos Only

  • Domestic and Foreign National Rates 

    • 3/1 ARM's start at 5.75%

    • 5/1 ARM's start at 6.00%

    • 7/1 ARM's start at 6.25% 

  • Loan Amounts up to $10M

  • Domestic Borrowers - Full income verification required

  • Foreign Nationals (Accountants Letter with 2- year income to date figure)

  • 680+FICO Required (No FICO needed for Foreign National)

  • Bank Rates + Broker Speed

  • Projects are Pre-Reviewed before Submission

NON-QM (NON-PRIME) PROGRAMS

  • Over 100+ Non-QM Lenders Approved 

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash-out limits

  • No Condo Questionnaire Options (Primary and Investment)

  • Rates start in the high 7's low 8's

  • Loan Amounts up to $10M

  • Foreign Nationals allowed with no Documentation

  • Alternate Income Verification Allowed

    • 1-Year Tax Return Options   

    • Bank Statement Programs (3, 12 & 24 Months)

    • SE Borrowers Only

    • No Income Verification - No Income/No Employment Required

    • 1099 Only (1 & 2 Years)

    • P&L Only - Borrower & CPA Prepared

    • K1 Only (1 & 2 Years)

    • VOE Only - W2 employees only

    • Asset Depletion (Assets for Income)

    • ITIN "Dreamers" Allowed

PRIVATE LENDING

  • We have over 20 years of relationships with private lenders, local and national

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash out limits

  • No Condo Questionnaire Required

  • Rates start in the high 7's to low 8's

  • 30 Year Fixed Rates available

  • No Tax Returns or Personal Income Verification Investment Properties Only

  • Vesting in LLCs only

  • Does not report on personal credit

  • Foreign Nationals Allowed - 20% down Purchases

  • Condo-Tels Allowed

HARD MONEY/BRIDGE LOANS

  • We have over 20 years of relationships with private lenders, local and national

  • Purchase, Rate & Term Refinance and Cash Out Refinances Allowed

  • Debt consolidation allowed with no cash- out limits

  • No Condo Questionnaire Required

  • Rates start in the upper 8's

  • No Income Verified

  • Investment & Primary residences allowed

  • Close In LLC or Personal Name

  • Assets do not need to be seasoned (Large deposits are fine)

  • No Pre-Payment Penalties

  • 12-36 Month Terms - Interest Only

  • Foreign Nationals allowed - 20% down

  • Fundings 1-2 days after return of appraisal

All loans are subject to credit approval. Interest rates are subject to change daily and without notice. Actual terms and conditions will depend on the details of each application and will vary upon the loan type, purpose, lock-in period, credit score and loan to value. This advertisement shall not be deemed to be an offer to extend credit and subject to final credit approval. Call or email us today with the details of your real estate needs for a customized quote.


* Terms may vary based on your particular situation, purchase, cash-out or rate/term transaction. Rate adjustments and prepayment penalties may apply.


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