Nextres Commercial
12 Penns Trail, Newtown, PA 18940
https://commercial.nextres.com/
Internal Reviews
(1 review)
Total loans closed with Loan Factory
0
Total loans closed with Loan Factory (past 12 months)
0
Lender overview
Basic information
Nextres, LLC ISAOA/ATIMA 12 Penns Trail, Suite 138, Newtown, PA 18940
CPL Nextres, LLC ISAOA/ATIMA 12 Penns Trail, Suite 138, Newtown, PA 18940
Lock policies & Fees
Lock Policies
Extensions may be requested after the loan is locked and prior to the expiration of the
lock. If additional time is needed, the extension request must be requested prior to
the expiration date of the lock and the loan will be repriced accordingly.
• All extension requests are processed in the Pricing Playground in the Review and
Lock screen. All programs may be extended a maximum of fifteen days. Refer to
the rate sheets for extension costs.
• Worse case pricing will apply with a relock fee of 12.5 bps on cancelled and
expired locks and will include previous extension costs.
• A loan may be relocked only once.
Lender's niche & Overlays
Nextres is a business purpose lender that offers DSCR, Bridge, Rehab, & Ground Up Construction loans in all 50 states for brokers and table funders only.
Our loan amounts range from 300k to 10m with a focus on higher loan amounts but grant exceptions for lower loan amounts on a case by case basis.
We offer unique products and white glove service with a product line that is suited for individuals with either little or no other options.
DSCR
Fico down to 600 for up to 4 units
Fico down to 625 for no ratio
Fico down to 700 for 5 to 8 units
FTHB / FTI allowed
Up to 3.5m for up to 5 units
Up to 2m for 5 to 8 units
ITIN / Foreign National/ Rural OK
Prepay 1 to 5 years
Bridge
Fico down to 500 for up to 4 units
Fico down to 620 for 5 to 100 units
FTHB / FTI allowed
Up to 10m
ITIN / Foreign National/ Rural OK
Properties in foreclosure
Properties that are mid construction
No prepayment penalty
Rehab
Fico down to 500 for up to 4 units
Fico down to 620 for 5 to 100 units
FTHB / FTI allowed
Up to 10m
ITIN / Foreign National OK
Rural 1 to 4 units OK
No prepayment penalty
Ground up Construction
Fico down to 650 Fico
Up to 4 units
FTI allowed
Up to 10m
ITIN / Foreign National OK
GC required with 3+ transactions within last 3 years
No prepayment penalty
Departing Residence Bridge:
Subject property must be listed (we will require a copy of the listing agreement)
LO must be NMLs licensed in that state
660 min Fico
60% Max LTV
300k to 2.5m loan amount
Only available in AZ, CA, FL, CO, NJ, PA, OR, and NV
There is no ATR but Nextres will require employment information, income documentation & 3 most recent months of bank statements
13.49 rate with 1.5 points +$1995 UW fee
Brokers are capped at 1 point
12 month IO term w/ no prepayment penalty.
Why Nextres??
Direct access to UW
24 to 48 hour turn around times
2 to 3 week closings
Optional in house processing
Optional rush option for $500
Optional term sheet generator
User friendly portal
Live pricing updated daily
Lender turn time
2
2
1
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