We are pleased to introduce a financing program with no minimum FICO score requirement for qualifying investment and commercial properties. This program may provide a financing path for borrowers whose credit history prevents them from qualifying for commercial mortgage programs.
Program Highlights
- No minimum FICO score requirement
- Financing up to 50% loan-to-value
- Credit report required, with available scores still reported
- No minimum tradeline requirement
Eligible Property Types
- One to four-family investment properties
- Mixed-use properties
- Multifamily properties
- Retail properties
- Office buildings
- Warehouses
- Automotive properties, excluding gas stations
Past Credit Events
- Bankruptcy
- Foreclosure
- Prior mortgage late payments
Judgments, charge-offs and collections may not need to be paid off as a condition of financing. This can help borrowers preserve capital for the purchase, operation or improvement of the property. Although there is no minimum FICO score, the borrower’s complete credit history and overall transaction will still be reviewed.
Additional Requirements
- All mortgages must be current when the loan is submitted.
- Federal tax liens must be paid.
Additional underwriting requirements, property conditions, and documentation standards may apply based on the transaction.
Contact Velocity Commercial Funding to discuss your property, requested loan amount, and credit history. Our commercial mortgage professionals can review the scenario and determine whether it meets the program’s requirements.
