New City Financial Advertisement Disclosure (last updated January 18,2017):
Advertised Terms and Disclosure Information
- The information and disclosures above relate to advertised terms made by or through New City Financial.
- Interest rates and terms are from a lender or lenders with whom New City Financial may match you and that offer the particular product. The disclosures are current as of the date indicated.
- Disclosure: Lender – New City Financial is not a lender in any transaction and does not make loans, loan commitments or lock-rates. All credit decisions, including loan approval and the conditional rates and terms you are offered, are the responsibility of the participating lenders and will vary based upon your loan request, your particular financial situation, and criteria determined by the lenders to whom you are matched. Not all consumers will qualify for the advertised rates and terms.
- Disclosure: FICO – FICO score means the FICO credit score report that a lender receives from a consumer reporting agency.
- Disclosure: 650+ Mid FICO Score – A Credit Score of 650 or better is required in order to qualify for rates as low as 6.74%.
- Disclosure: Loan Rates – Rates as Low as 6.74% are available based on credit scores, financial performance and history
- Disclosure: LTV – LTV of 75% refers to the Loan To Value requiring the borrow to have a minimu of 25% of the property value in order to qualify for a loan which is 75% of the total purchase price of the property or business.
- Disclosure: Borrowers Served – Over 35 million borrowers served refers to the amount of borrowers that applied for a loan through New City Financial’s lender network.
- Disclosure: $75k to $5MM – Refers to the minimum amount of $75,000 available for a lending and a maximum amount of $5,000,000 available as a loan for qualified loan applicants.
- Disclosure: No balloons- 30 year amortized term with a 3 or 8 year fixed period – The Loan is amortized as a 30 year loan but the actual term of the Loan shall be a minimum of 3 years and a maximum of 8 years.