PacificFirst Mortgage

6120 Paseo Del Norte,
Suite I-2,
Carlsbad, CA, 92011
Tel: 760-607-0440
Fax: 760-607-0441

PacificFirst Mortgage MFLD
Stated Income Apartment Loans

PacificFirst Mortgage MFLD Stated Income Apartment Loan Program provides competitive apartment financing for borrowers requiring a reduced document or stated income option.

The Stated Income Apartment Loan Program does not require personal or business tax returns, personal financial statements and has no monthly or annual reporting requirements. Please Note: The subject property must cash flow at a minimum DSCR of 1.20. Appraisal rents are used to qualify income. Subject property rent roll and income and expense statements are required.

  • No personal or business tax returns required
  • No personal financial statements required
  • No monthly/annual reporting required
  • No balloon or call provisions
  • Up to five year fixed rates
  • Up to 85% financing for good credit borrowers
  • Good property condition required
  • Minimal fee structure with no lender point options

Loan Program Overview
Stated Income Apartment Loans are available for loan sizes up to $1,000,000. For conventional apartment loan sizes above $500,000, or for borrowers that can provide tax returns, PacificFirst Mortgage MFLD recommends borrowers first apply through the Small Balance Apartment Loan Program.

  • Stated Income Apartment Loans From $100,000 - $1,000,000
  • 15, 20, 25, 30 Year Amortizations
  • Up to 85% LTV
  • 5% Prepayment Penalty to 5 Years
    (20% Annual Principal Reduction With No PPP)
  • Impounds: Tax and Insurance
  • No Personal Tax Returns
  • No Personal Financial Statements
  • Streamlined Loan Process
  • 575 Minimum Credit Score
  • Weekly, Monthly, Annual Leases OK
  • Property Management Experience not Required
  • 6 Month, 1, 2, 5 Year Fixed Rates
  • Purchase or Acquisition
  • Appraisal Rents Qualify Income
    Rent Roll Required
    Income/Expenses Required
  • Standard PI Payment
  • No Business Tax Returns
  • No Monthly / Annual Reporting
  • Extremely Fast Closings
  • Subordinate Financing to 90%
  • Section 8 – Subsidized Rents OK
  • Minimum Seasoning Requirements on Refinances
6120 Paseo Del Norte, Suite I-2, Carlsbad, CA, 92011 | Tel: 760-607-0440 | Fax: 760-607-0441