NexBank
2515 McKinney Avenue, Dallas, TX 75201
https://www.nexbank.com/
Internal Reviews
(0 reviews)
Total loans closed with Loan Factory
17,896
Total loans closed with Loan Factory (past 12 months)
14,506
Lender overview
Basic information
Loss Payee Clause: Dovenmuehle Mortgage Inc. ISAOA, ATIMA PO BOX 961292 Fort Worth, TX 76161
CPL Mortgage Clause: ( Wholesale only): NexBank, ISAOA, ATIMA 2515 McKinney Avenue, Suite 1700 Dallas, TX 75201
Lock policies & Fees
Lock Policies
You get a free 3 day extension on all loan products then it's a cost of .020 per day. Max lock period is 60 days.
No weekend locks
If lock expires, you can relock at current market after 30 days of expired lock. If you relock before that time, it is worst case pricing + .125% to relock
Lender's niche & Overlays
Our Mortgage Connect Portfolio Product.
We have FULL DOCS and NON QM options.
Highlights:
Loan amounts from 200K – 2.5 million
No secondary financing hit
No hits for second homes
No hits for 2-4 units
Reduced non owner hit ( .375 for under 70% and .750 for over 70%)
Cash out hit only .500
Condo hit over 75% only .375
Low LLPA's
AUS program –full docs
DTI capped at 45%
Reserves ( follow AUS findings) for full docs
Transferred appraisals okay
No cap on the # of financed properties
We also offer a Reduced doc option as well. ( bank statements, DSCR, and Assets options)
No Prepayment Penalty
WE have fixed rate options, arms, and interest only arm options.
We have a true 6 month arm product in addition to the 1yr, 3yr, 5yr, 7y, and 10 yr options
- Lender's overlays : DSCR loans: Must be licensed in state property is located and cannot close in an LLC. No First-time homebuyers or investors. -->
We have an overlay checklist on website. It is very minimal
DSCR loans: Must be licensed in state property is located and cannot close in an LLC. No First-time homebuyers or investors.
Lender turn time
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