The loan program you are being presented is almost certainly for 1 to possibly 4 units. Even a single unit can be considered (Income Property). 5 or more units would also be Income Property but more importantly would be considered Commercial Property that requires a commercial loan.
There are no 100% NINA commercial loan programs offered by lenders although you might get it though private/owner financing.
I came across an income property where a lender will loan 100% under a NoDoc/No Ratio Program, whatever that is. This seems like to good to be true, but they said that the income coming in will pay for the loan and leave a couple of hundred dollars left over.
There is a ration called the DCR, debt cover ratio that lenders use in determining cash flow but I’ve never heard of lenders banking soley on that. That seems pretty risky to me from a lenders standpoint.
Do they break it up into a 80% first and 20% HELOC?
What is the APR?
These loans are available. It is credit score driven. A “No Doc” loan is no income or assets are documented.
A 'No Ratio" is when the Debt to Income Ratio is not considered. These are non-conforming loans and are available at your local mortgage Broker.