Silver Hill Announces New Stated-Income Program – NMP Skip to main content

Silver Hill Announces New Stated-Income Program

Jun 07, 2017
Silver Hill Funding LLC has named Nina Hamilton-Lee as Head of Operations, overseeing management of the processing, closing, and quality control departments

Silver Hill Funding LLC has introduced its new Stated Owner-Occupied Program for small-balance commercial loans from $250,000 to $2,000,000. The Stated Owner-Occupied Program utilizes a proprietary algorithm that enables Silver Hill to pull data from various sources, meaning borrowers can get approved for a loan without having to provide business financial statements or personal/business tax returns. The only documents required at the beginning of a transaction are a loan application and credit report.
 
“Prospective borrowers with owner-occupied financing requests have historically been underserved by traditional lenders,” said Silver Hill Managing Director Leslie Smith. “Mortgage originators can take advantage of our new program and help their clients secure funding without having to provide the extensive documentation other lenders require.”
 
Financing is available for borrowers who have a FICO credit score of 700-plus and whose business has been in existence for at least five years. Eligible property types include mixed-use, retail, office, warehouse, self-storage, automotive, light industrial and daycare centers. The maximum LTV is 75 percent.

 
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