CLTV Program
This is a very special program that is not offered with many other Mortgage Companies. Please read the details of this program to get a better understanding and to see if this program is a good fit for you.
Note: This program is subject to change at any given time; feel free to check this site periodically to updates.
CLTV PPROGRAM:
CLTV means Combined Loan to Value. Using PhoneOps CLTV Wholesale program, PhoneOps will do a 1st lien at 75% LTV, the Seller can do a 15% 2nd lien and the borrower put only 10% down.
This program is also available Retail, view the CLTV splits below:
<$1,000,00
75% Lender
15% Seller
10% down for Borrower
= 100% CLTV
>$1,000,00
70% Lender
20% Seller
10% down for Borrower
= 100% CLTV
>$1,000,000
50% Lender
50% Seller
0% down for Borrower
= 100% CLTV
If you fall into one of the above, then our program is great for you. PhoneOps CLTV Loan Program is a wonderful program that is suitable for anyone that applies.
PHONEOPS CLTV PROGRAM
IS AVAILABLE NATIONWIDE!
10% DOWN PAYMENT:
The standard down payment for commercial properties is 25% depending on credit, the property and if it’s already income producing. No matter what anyone say, putting 10% down is extremely better than putting 25% down so this is still a great opportunity.
Keep in mind, putting 10% down provides a higher LTV on the Lender side and a lower LTV on the Seller side. Some Sellers have mortgages and doing a higher Seller 2nd wouldn’t clear their mortgage so they will deny doing the 2nd. 95% of Sellers would do a 2nd if the 2nd is only 15% for 1yr to 5yrs.
TODAY’S REAL ESTATE MARKET:
Most potential homeowners are forced to rent because nowadays, the interest rates are much higher than normal; it’s messing up their DTI making them to not qualify for a home mortgage so is it a Buyer’s Market? NO!
Sellers are listing their properties but if no Buyers are available to purchase them, does this make it a Seller’s Market? NO!
At this point, it is a Landlord’s Market so now is the time to purchase more than ever as more renters are in need of rental housing.
Properties Allowed:
Rentals
1 – 4 units
5 to 100+ unit
Apartment Buildings
Mix-Use
Properties
GUIDELINES:
View the guidelines based on the CLTV Split below:
For 75/15/10 Split
(10% Down Payment)
* MIN FICO: 650 & up
* Loan amount: $100K to $5M
* Rate: 7% to 11%
* Term: 30yrs – PITI plus PPP
* No outside Appraisals
For 70/20/10 Split
(10% Down Payment)
* MIN FICO: 650 & up
* Loan amount: $100K to $5M
* Rate: 7% to 11%
* Term: 30yrs – PITI plus PPP
* No outside Appraisals
For 50/50 Split
(No Down Payment)
* MIN FICO: None
* Loan amount: $1M to $50M
* Rate: 12% to 15%
* Term: 1yr-5yrs – Interest Only
* No outside Appraisals
Download the full Guidelines to better understand if your project is a good fit:
