Visio Lending is a lender for rent-ready landlords looking for long-term financing or cash out opportunities to grow their portfolio. It has bought, sold, or financed more than $275 million in residential real estate nationwide. In this article, we cover Visio Lending reviews and pricing. Ready to get started with Visio Lending? Visit its website.
Summary of Visio Lending Reviews
As of the date this article was written (02/08/19), there are no recent Visio Lending reviews online. If you are a past or current Visio Lending customer, leave a review to help other small business owners who are deciding whether or not to use the company.
Visio Lending Pricing
Visio Lending pricing and terms for each type of loan vary. The interest rate is 6.025% to 12.50% depending on the program, LTV (loan-to-value), and DSCR (Debt Service Coverage Ratio). Origination fees range from 1.5% to 2.5%, while closing costs are 2% to 5%. Loan amounts range from $75,000 to $2,000,000.
(may also consider deals outside this range)
Visio Lending offers short-term and long-term products for purchases and refinances. Ranging from a 24-month bridge loan to a 30-year fixed rental property loan, it only finances rent-ready properties with a C4 appraisal rating and no deferred maintenance with a minimum property value of $75,000.
Interested parties may go to its website, find their credit score, calculate their DSCR, and select the desired loan-to-value to get more detailed pricing information.
Ready to get started with Visio Lending? Visit its website.
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Visio Lending Features
Check out the list below of some of Visio Lending’s features:
- No DTI or personal income qualification
- No tax returns or 4506 requirements
- Up to 75% LTV on cash-out refinances & 80% LTV on purchases
- Full 30-year term
- Fixed rates
Visio Lending FAQ
How long does it take to fund a loan?
Once the appraisal is ordered, Visio Lending typically closes within 21 business days. Loans are generally funded within 24 hours of closing for purchases and within 48 hours of closing for refinances.
What states does Visio Lending cater to?
Visio lends in 37 states and Washington, D.C., including: AL, AR, CA, CO, CT, FL, GA, IA, IL, IN, KY, KS, LA, MA, MD, ME, MI, MO, MS, MT, NC, NH, NJ, NM, NY, OH, OK, PA, SC, TN, TX, UT, VA, WA, WI, WV & WY. It doesn’t lend in Detroit & Flint, MI. For properties located in Massachusetts, Georgia, Virginia and New York, Visio only lends to entities (no non-profits).
What are the minimum credit qualifications?
Visio uses a tri-merged credit report and either uses the middle score of three scores, or the lower score of two scores. Its minimum credit score is 640. Some of the other credit requirements include no open foreclosure or bankruptcy, no bankruptcy in the past four years, no foreclosures, short sales or deeds in lieu within the last three years, and no mortgage lates in the past 12 months.