Fundings

Fundings 2017-05-30T19:54:45+00:00

Large and super complex deal!!!

Loan Amount: $7,500,000

Broker Commission: $37,500

Athas Account executive: Patty Kennedy

Account executive phone number: 310-962-3513

Account executive’s email: patty@athascapital.com

FICO: 740

Credit Grade: D

Term Requested: 12 months

Interest Rate: 8.99%

Prepay Protection: No Prepay or minimum interest!

Occupancy: O/O and owner user and Investment

City and State collateral was located in: Newport Beach

Type of Collateral: SFR and two office buildings

Special Circumstances: Borrower had 3 business loan s that he had stopped paying on and those loans were in default. The loan also was no income verified and no form of DSCR was used. Borrower was in a tight spot and needed to buy some time so he could liquidate some of his real-estate holdings.

Highlights of this Day: We were in 1st position on his SFR and in 3rd position on one office building and in 4th position on the other building! We lent to an individual and two business entities…..so three borrowers! Very complex deal.

If you have a Non-Prime loan request call Patty Kennedy at Athas!!!

Loan Amount: $2,343,000

Broker Commission: $35,145

Athas Account executive: Jeff Krecioch

Account executive phone number: 877-877-1477

Account executive’s email: Jeff@athascapital.com

FICO: 712

Credit Grade: A

Term Requested: 12 month

Interest Rate: 7.99%

Prepay Protection: No prepay and no minimum interest

Occupancy: N/O/O

City and State collateral was located in: Venice, CA

Type of Collateral: 5 unit Multi-Family and a 6 unit Multi-Family

Special Circumstances: These were two brothers who wanted to pay off a blanket private lien and get some cash out for some more property acquisitions. The properties were 5 and 6 units each and they wanted a shorter term loan at a decent interest rate and fees, the challenge was giving them an interest rate that was attractive.  They had been paying approximately 10% on the blanket loan. When I told them that I can give them an interest rate of only 7.99% for 24 months they got excited.  This is exactly what they were looking for.  The fact that each loan was over $1 million and I didn’t have to hit them for an additional add to rate or fee because of such a large loan amount was paramount to getting these deals closed at an interest rate that was very attractive to our borrowers.

If you have a Non-Prime loan request call Jeff Krecioch at Athas!!!

Loan Amount: $2,000,000

Broker Commission:

Athas Account executive: Nicole Cayton

Account executive phone number: 818-634-6509

Account executive’s email: NCayton@Athascapital.com

FICO: 679

Credit Grade: A-

Term Requested: 360 months

Interest Rate: 7.375%

Prepay Protection: No prepay or minimum interest

Occupancy: O/O

City and State collateral was located in: Los Angeles, CA

Type of Collateral: SFR

Special Circumstances: This was a borrower that could not DTI BUT did have enough liquid assets to qualify for our Asset Depletion loan product. Also borrower had a challenging VOR issue that wasn’t viewed as a credit enhancement let say.

Highlights of this Deal: loan from approval to funding only took 10 days and that is very fast for a TRID compliant loan!!!

If you have a Non-Prime loan request call Nicole Cayton at Athas!!!

NO proof of income and had to close quickly!

Loan Amount: $1,479,000

Broker Commission: $25,882

Athas Account executive: Barry Boston

Account executive phone number: 877-877-1477

Account executive’s email: BBoston@athascapital.com

FICO: 683

Credit Grade: A-

Term Requested: 360 months

Interest Rate: 8.5%

Prepay Protection: 3 years

Occupancy: N/O/O

City and State collateral was located in: Des Moines, WA

Type of Collateral: SFR’s

Special Circumstances: BORR sold a commercial property and used funds for 1031 Exchange to purchase three N/O/O properties. There were multiple challenges here. First borrower was a Foreign National because he had no Green Card.  The next challenge was BORR was essentially buying up in size and value, but these were 1031 Exchanges which of course require the newly purchased properties to be investments. Another semi challenge was BORR had recently sold another SFR and relocated his primary causing a delay in getting proof of where he actually resided. Lastly, these were nice high end (WA) properties and two were not located in a major metropolitan area. Lastly all three loans closed fairly quickly-less than 20 days.

If you have a Non-Prime loan request call Barry Boston at Athas!!!

When everyone needs to close tomorrow but no one gets you the conditions you need till the last second?

Loan Amount: $1,470,000

Broker Commission: $14,700

Athas Account executive: Erika Avildsen

Account executive phone number: 877-877-1477

Account executive’s email: Erika@athascapital.com

FICO: 659

Credit Grade: A

Term Requested: 360 months

Interest Rate: 6.875%

Prepay Protection: No Prepay and no minimum interest

Occupancy: O/O

City and State collateral was located in: Los Angeles, CA

Type of Collateral: Condo

Special Circumstances:

Needed to close concurrently with the sale of his current residence

-Loan was submitted on March 1st needed to close by the 23rd.

-We were able to get an extension on the purchase contract by a few days and funded on the 27th.

-Borrower was trying to get a bank loan, but they declined him or were taking too long to close.

-Borrower was waiting until the last minute to get a bonus check from work for the rest of his down payment on the property otherwise we probably could have stayed with the original CO

Loan Amount: $858,750

Broker Commission: $5,000

Athas Account executive: Steve Nicholl

Account executive phone number: 619-408-2908

Account executive’s email: snicholl@athascapital.com

FICO: 801

Credit Grade: B-

Term Requested: 360 month

Interest Rate: 8.5%

Prepay Protection: No prepay or minimum interest

Occupancy: O/O

City and State collateral was located in: El Dorado, CA

Type of Collateral: SFR

Special Circumstances: The Co-borrower had Foreclosure 9/2015 on a property which was jointly owned with her Ex-husband. Also qualifying DTI was 53.85!!!!

Highlights of this Day: We were able to help the Millers get into their new home on Jumbo purchase, purchase price of $1,150,000.00 with 25% down

If you have a Non-Prime loan request call Steve Nicholl at Athas!!!

Loan Amount: $799,750.00

Broker Commission: $7997

Athas Account executive: Shaedon Boudreaux

Account executive phone number: 877-877-1477

Account executive’s email: Shaedon@athascapital.com

FICO: 602

Credit Grade: B

Term Requested: 360 months

Interest Rate: 7.875%

Prepay Protection: No prepay and no minimum interest

Occupancy: O/O

City and State collateral was located in: Livermore, CA

Type of Collateral: SFR

Special Circumstances:  This was a lease option to purchase where they had made 12 or more payments on the lease option. At Athas we will allow borrower to use appraisal value instead of purchase price  thus in many cases the borrower doesn’t need any money down. This was one of those cases. Borrower had a Foreclosure late in 2014 and his DTI was almost 50%!

If you have a Non-Prime loan request call Shaedon Bourdreaux at Athas!!!

When you ABSOLUTELY need it to close quickly!

Loan Amount: $735,000

Broker Commission: $11,025

Athas Account executive: Stuart Solomon

Account executive phone number: 877-877-1477

Account executive’s email: stuart@athascapital.com

FICO: 671

Credit Grade: B

Income documentation: NIV (no income verified)

Term Requested:  12 months

Interest Rate: 9.5%

Prepay Protection: No prepay and no minimum interest

Occupancy: N/O/O

City and State collateral was located in: Issaquah, WA

Type of Collateral: SFR

Special Circumstances: Foreign national from China with No American credit, no American ID and NO proof of income! Loan docs were sent to China and signed in the American Consulate. Even with ALL of this we closed this transaction in 7 yes 7 days!

If you have a Non-Prime loan request call Stuart Solomon at Athas!!!

FORECLOSURE BAILOUT!

Loan Amount: $533,000

Broker Commission: $5,330

Athas Account executive: Kathy Barkus

Account executive phone number: 818-917-8935

Account executive’s email: Kathy@athascapital.com

FICO: 736

Credit Grade: D

Term Requested: 24 months

Interest Rate: 8.75%

Prepay Protection: No prepay and no minimum interest

Occupancy: N/O/O

City and State collateral was located in: Los Angeles, CA

Type of Collateral: 3 unit residential

Special Circumstances: Tough file for many reasons, the property was currently in Bankruptcy and currently in foreclosure. In additional a gift transfer was done between father and son for the property. The son has great credit, the Dad……..well……..not so much. Despite, the many challenges Athas got it done!

If you have a Non-Prime loan request call Kathy Barkus at Athas!!!

Absolutely no proof of income whatsoever!

Loan Amount: $521,500

Broker Commission: $6,518

Athas Account executive: Steve Nicholl

Account executive phone number: 619-408-2908

Account executive’s email: snicholl@athascapital.com

FICO: 692

Credit Grade: A

Term Requested: 12 months

Interest Rate: 8.5%

Prepay Protection: No prepay or minimum interest

Occupancy: N/O/O

City and State collateral was located in: Costa Mesa, CA

Type of Collateral:  SFR

Special Circumstances: Property was vacant-Thank God Athas can make these loans with NO NEED for DSCR coverage!

Highlights of this Day: This borrower needed a quick stated bridge loan close w/ no prepay on a purchase of $755,000.00. The borrower had other lenders come to him & promise to close in time. But the borrower believed in Athas and out track record of funding these types of deals since Jan 2 2008! They decided to take the easier and smoother wrought. The chose to close and fund his loan with Athas Capital.

If you have a Non-Prime loan request call Steve Nicholl at Athas!!!

Loan Amount:  $480,000

Broker Commission:  $9,600

Athas Account Executive:  Patty Kennedy

Account Executive’s phone number:  310-962-3513

Account Executive’s email:  patty@athascapital.com

FICO:  652

Credit Grade:  A Hard Money

Term Requested:  1 year interest only with no prepay

Interest Rate:  8.99

Prepay Protection:  none

Occupancy: Non Owner Occupied

City and State collateral was located:  Cambria, CA

Type of Collateral:  SFR

Special Circumstances:  This was a NOO Purchase.  60% LTV.  Broker and borrower provided conditions quickly and appraisal in at purchase price.

Highlights of this deal:  Close of Escrow was 3/12.  We closed early on 3/9.  Broker and borrower were very happy with Athas Capital.

If you have a Non-Prime loan request call Patty Kennedy at Athas!!!

Loan Amount:  $450,000

Broker Commission:  $9,595

Athas Account Executive:  Patty Kennedy

Account Executive’s phone number:  310-962-3513

Account Executive’s email:  patty@athascapital.com

FICO:  747

Credit Grade:  A Consumer Purpose

Term Requested:  30/30

Interest Rate:  6.5 @ par

Prepay Protection:  none

Occupancy: Owner Occupied

City and State collateral was located:  Solana Beach, CA

Type of Collateral:  SFR

Special Circumstances:  This was an Owner Occupied refinance cash out.  The borrower is self-employed and could not receive financing through a traditional lender.  We were able to put this borrower on the Asset Depletion program using 2 months most recent statements.

Highlights of this deal:  Appraisal came in $650,000 higher than projected

If you have a Non-Prime loan request call Patty Kennedy at Athas!!

Loan Amount:  $450,000

Broker Commission:  $9,000

Athas Account Executive:  Patty Kennedy

Account Executive’s phone number:  310-962-3513

Account Executive’s email:  patty@athascapital.com

FICO:  711

Credit Grade:  A Business Sub Prime

Term Requested:  3/27

Interest Rate:  8.375

Prepay Protection:  1 year

Occupancy:  Non-Owner Occupied

City and State collateral was located:  Hayward, CA

Type of Collateral: 4 Units

Special Circumstances:  File submitted to Processing on March 14th and funded March 31st.  Borrower only had 2 active trades.  Borrower self-employed 10 years and was not able to acquire traditional financing.  Athas was able to get this loan funded quickly with no income documentation as this is a business loan with funds improving and growing borrowers real estate portfolio.

Highlights of this deal:  Appraisal came in $70,000 higher than projected

If you have a Non-Prime loan request call Patty Kennedy at Athas!!!

Loan Amount: $437,500

Broker Commission: $8,750

Athas Account executive: Nicole Cayton

Account executive phone number: 818-634-6509

Account executive’s email: NCayton@Athascapital.com

FICO: 562

Credit Grade: B-

Term Requested: 360 months

Interest Rate: 8.5%

Prepay Protection: No prepay and no minimum interest

Occupancy: O/O

City and State collateral was located in: Northridge, CA

Type of Collateral: SFR

Special Circumstances: Owner occupied property in previous Hard-Money rates in the 10’s. Borrower came to Athas requesting a HIGH LTV cash out with no open or current trade lines. Appraisal came in lower than anticipated and amidst of the refinance borrower forgot to pay the February payment as borrower was out of town. Athas was able to make an exception, lower their monthly payments with no prepayment penalty.

If you have a Non-Prime loan request call Nicole Cayton at Athas!!!

Loan Amount:  $422,500

Broker Commission:  $10,562.50

Athas Account Executive:  Patty Kennedy

Account Executive’s phone number:  310-962-3513

Account Executive’s email:  patty@athascapital.com

FICO:  709

Credit Grade:  A Consumer Purpose

Term Requested:  7/23

Interest Rate:  6.375

Prepay Protection:  none

Occupancy: Owner Occupied

City and State collateral was located:  Grants Pass, OR

Type of Collateral:  SFR

Special Circumstances:  This was an Owner Occupied @ 65% LTV.  Borrower is not employed.  She receives trust income.  Provided 24 months personal bank statements and 2 years tax returns to verify the trust income along with the trust documents to support 3 year continuance.

Highlights of this deal:  Borrower could not get a loan through traditional lending but Athas was able to fund this loan using the above documentation

If you have a Non-Prime loan request call Patty Kennedy at Athas!!!

NO Verification whatsoever of income!!!

Loan Amount: $339,000

Broker Commission: $6,780.00

Athas Account executive: Todd Kaplan

Account executive phone number: 877-877-1477

Account executive’s email: Todd@athascapital.com

FICO: 708

Credit Grade: A

Term Requested: 12 months

Interest Rate: 8.5%

Prepay Protection: No prepay penalties or minimum interest

Occupancy: N/O/O

City and State collateral was located in: Corona, CA

Type of Collateral: SFR

Special Circumstances: Broker came to Athas Capital to pull cash out on a SFR Rental at 70%. Borrower had a loan on the property with an interest rate of 11%???? Borrower had good credit but did not own his primary residence and ran into trouble with conventional financing. Athas Capital closed this loan with no Income verification and both the broker and borrower were happy with our services.

27001 Agoura Road Suite 200 Calabasas Hills, CA 91301
Phone: 1-877-877-1477
Email: info@athascapital.com

Licensed under the Department of Business Oversight California Finance Lenders Law. Loans are made or arranged under the Department of Business Oversight California Finance Lenders Law License # 603 F869 NMLS# 275237