Reading Time: 3 minutesLenders offer mortgages for an array of restaurant scenarios, including start-ups, opening and financing a restaurant, cafés, fast-food franchises, bakeries, specialty restaurants, franchised or branded restaurants, chains and independents.
Reading Time: 3 minutesA second mortgage is a loan a borrower takes on a home that people live in, whether it is a primary residence, a vacation home or a rental property.
Reading Time: 3 minutesA rental property loan is a mortgage for a residence from which the borrower, as a landlord, intends to earn rental income.
Reading Time: 2 minutesA home rehab loan is used to rehab, renovate or remodel a residence. These loans are typically refinances with cash-out.
Reading Time: 3 minutesOwner builder loans are made for borrowers who are building their own home.
Reading Time: 2 minutesA nonowner-occupied mortgage is a loan for a single family residence, duplex and triplex or fourplex, where the residents are renters.
Reading Time: 2 minutesSome borrowers aren’t able to provide income documentation. In these cases, a lender may accept other proof of the borrower’s net worth.
Reading Time: 2 minutesBorrowers with credit scores under 500 or no FICO score will not qualify for prime loan programs and will therefore have to explore non-conventional mortgages.
Reading Time: 3 minutesNo-doc or low-doc home loans allow a borrower to obtain a mortgage without providing traditional income-verification documents to a lender.
Reading Time: 2 minutesThese communities can be large or small. While residents own the manufactured or mobile home itself, the owner of the park earns revenue by leasing the land beneath the homes.
