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General Lending Guidelines

Below is an overview of our general guidelines. Tamoney Investments, LLC has a “think outside the box” approach and we are very creative in our approach to funding, we will do all we can to make any scenario work for you.

Visit our Type of Loan page for more info.
PROPERTY TYPE:
Residential non-owner occupied 1 – 4 family residential Investment properties.
STATES:
PA.
LOAN SIZE:
$20,000 – $250,000 (Depends on Scenario etc.).
LIEN POSITION:
First mortgage only.
STANDARD TERM:
6 – 12 Months.
LTV:
Up to 70% (Based on After Repair Value).
POINTS:
Up to 4 Points paid at closing, $1500 Minimum.
INTEREST:
Up to 15% interest only payments paid monthly.
CLOSING COSTS:
Paid at closing.
GUARANTEE:
Personal guarantee required.
PRINCIPAL’S FICO:
650 min FICO
REQUIRED DOCUMENTS:
Completed loan application & supporting documents, including, but not limited to: 6 months of bank statements Most recent pay stubs Verification of employment and other mortgages
LOAN DOCUMENTATION:
Purchase Agreement. Scope of Work (If rehabbing). Builders Risk or Liability Insurance. “As-Is” and “After-Repair” value Appraisals or Sold Comps. Homeowners Insurance Declaration Page. Lender listed as mortgagee.
QUICK CLOSINGS:
2-3 Weeks after all docs are obtained/approved.