PROGRAMS
KEY HIGHLIGHTS
• Loans to $15 million • FICO as low as 500 • 100% Gift Funds Allowed • Asset Depletion allowed • Up to 55% DTI • Cash out up to 85% Loan to Value • No seasoning requirement • Interest-only options
Commercial Loan Programs
SBA(7A or 504), Apartment Loans, Commercial Loans
Residential Loan Programs
Conventional Loans (Full Doc), VA, FHA
Creative Loan Programs
Creative lending is not always thinking outside the box. It is understanding and knowing the guidelines and the niche of various lenders. We get a lot of clients that have been turned down at other lenders sometimes two or three other lenders, yet we are able to get the loan done. When you have a simple cold you can go to any doctor, but when you have a life threating health problem you want to go to the best specialist you can find who knows everything in their field and has seen every type of your health problem. Banrock Financial is the specialist you want to use to for any of your real estate financing needs.
Direct Residential Lender
As a Direct lender Banrock Financial Corp has in house Underwriting, Processing and Funding.
Banrock Financial Corp is not your typical mortgage lender, we offer personal hands on service and expertise. Banrock Financial Corp offers financing on several kinds of properties and has access to exclusive loan programs.
Commercial / SBA Financing
Banrock Financial Corp specializes in Residential, but we do help clients with their Commercial and Private Money loans. From business acquisition loans to financing cannabis warehouse facilities. Whatever your financing need is, we can help you obtain it.
Conventional
FANNIE MAE AND FREDDIE MAC CONFORMING/HIGH-BALANCE (FNMA/FHLMC) • Up to 97% financing • 100% of down payment and closing costs may be gifted • No credit score required subject to AUS on standard conforming loan limits • Up to 10 financed properties • Appraisal transferred allowed on standard conforming loan limits
DU REFI PLUS
• Up to 105/150% LTV/CLTV • Minimum FICO 620 • No mortgage insurance • PIW is acceptable subject to AUS
HOME READY
Home Ready is an affordable low-down-payment mortgage product designed for creditworthy low- to moderate-income borrowers. • Low down payment – up to 97% LTV financing for home purchases • No first-time buyer requirement • Flexible sources of funds with no minimum contribution from the borrower’s own funds (one-unit properties)
FHA
• Low 3.5% down payment • Up to 85% cash out • FICOs from 580 • Flexible credit + underwriting guidelines • Gift funds permissible for 100% of required investment and closing costs • Manual underwriting/AUS Refer
FHA STREAMLINE
• FICOs from 580 • Flexible credit + underwriting guidelines • Mortgage only credit report accepted • May not need to document funds to close • Variable loan terms down to 240 can help meet NTB test • No appraisal requirement • No income verification
MANUFACTURED HOMES
• Minimum 680 FICO • Tax transcripts for W2 • 4506T tax transcripts validated regardless of income source • Follows FHA Guidelines • Double or triple-wide only. No single-wide units. • Min. 400 sq. ft. Must be constructed after 6.15.76 • No new construction or MH condos permitted • Non-traditional credit is not allowed