Lead Plus Wholesale Lending/ Summit Funding
2135 Butano Drive, Ste. 150, Sacramento, CA 95825
https://www.leadpluswholesale.com/
Internal Reviews
(1 review)
Total loans closed with Loan Factory
18,482
Total loans closed with Loan Factory (past 12 months)
14,960
Lender overview
Basic information
Summit Funding Inc. DBA Lead+ Wholesale Lending, ISAOA PO BOX 15768, SACRAMENTO, CA 95852
Summit Funding Inc. DBA Lead+ Wholesale Lending, ISAOA PO BOX 15768, SACRAMENTO, CA 95852.
Lock policies & Fees
Lock Policies
It is policy to close loans prior to their lock expiration dates, with the understanding that for a variety of reasons, loans will not always close during the original lock- in period. All lock extension must be requested through TPO Connect as soon as possible, and by lock expiration date. (Note: Our cut off time for all Lock extensions to be process same day is 3:00 PM PST.) •Secondary will allow the loan to be extended for of the following time periods and fees: 5 days at .15 hit (Available only in 5 day increments up to 10 days)
The rate and price for the re-lock will be the worst of pricing between the original lock date and the relock date. The new lock term will be a 15-day lock period. •If the lock has been cancelled for at least 60 days, the loan may be re-locked at current market pricing. •If the loan is re-locked within 60 days of the cancellation date, the loan is re-locked using worst case pricing and a .25% re-lock fee will be charged.
Lender's niche & Overlays
Use Crypto for Down Payment and Closing
- Self Employed options for borrowers with Less than 2 years of experience!!
- Rural DSCR available
- Up to 10 Unit DSCR, also for Foreign National
- AirDNA Option for STR
- Super Jumbo, Above $3mil in varying products
- 75% LTV for Foreign National, including FL
- Use 680 to qualify Foreign National (great pricing!)
- Mixed Use
- 80% LTV Cash Out to $2mil for BS and P&L/Full Doc
- DSCR down to 640 Mid Fico
- Bank Statement and Full Doc down to 620
- Condotels down to 400 sq. ft
- DSCR Cash Out available on no ratio and ratios of .75-1.00
- 2nd Mortgages
- 680 minimum score
Lender turn time
2
2
1
Review - Lead Plus Wholesale Lending/ Summit Funding
2.0
1 Google Reviews
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