Non Owner, No Income (NONI) loan
6 months interest on 80% of the original principal balance (Standard Term = 3 years); ** Prepay Penalty allowed for loans closed in the name of Corporation or LLCs (personal guarantee required).
Available in States: AL, AZ, CA, CO, CT, DE, FL, GA, HI, IL**, KY, LA, MA, MO, MD, OK, NJ***, PA*, RI, SC, TN, TX***, UT, VA, WA
NJ*** PPP allowed when closing in an entity, otherwise PPP must be bought out when closing as an individual. RI- PPP not allowed. Must buyout PPP.
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