Financing
Minimum Loan Amount: $50,000 Minimum property value of $100,000.
Maximum Loan Amount: $600,000 Down Payment: 35% LTV: 65%
Applicants between 65 and 75 yrs old 50% LTV Debt to Income Ratio (DTI): 35% Payment to Income Ratio (PTI): 20% Minimum FICO Score: 680+
Rates & Terms: 10 Year Loan: 7.59% fixed for the first 5 years; after that the rate would be LIBOR + 3.75% for the remaining term.
15 Year Loan: 7.80% fixed for the first 5 years; after that the rate would be LIBOR + 4.00% for the remaining term.
20 Year Loan: 7.99% fixed for the first 5 years; after that the rate would be LIBOR + 4.25% for the remaining term.
Fixed Rate Loan: 8.75% fixed for 15 years, with a 30 year amortization.
By Mark Landry Regional Vice President Platinum Capital International
Serving all Regions in Mexico & Beyond