Rental Property Loan

The Rental Property Loan is designed for borrowers seeking a streamlined loan solution. This loan comes as a fixed rate or hybrid ARM product with each offering a 30 year loan term and amortization. Leverage up to an 80% LTV on a purchase or rate/term refinance and up to a 75% LTV on a refinance with cash-out. Income qualifications are based on the property’s cashflow, not your personal income. No limit on the number of rental properties currently financed. This is the ideal alternative to a traditional bank or hard money loan. Contact me to discuss your options or to get pre-approved.

 

Key Points

Minimum Mid-FICO 650

Qualifying income is based on property cash flow

Refinance: 30-day seasoning for Full-Appraisal Value

Purchase: No sourcing or seasoning of funds

Same Day Conditional Approval

 

 

Terms

$100,000 - $2.5 million

LTV: Up to 80%*

Interest: from 4.99%**

Rate: Fixed, Hybrid ARM and Partial Interest-Only Available

Fixed Term: 5, 7, 10 or 30 years

Term: 30 years

Amort: 30 years

DSCR: No Minimum

Multiple Prepayment Penalty Options

Impounds Required

Non-Recourse $1M+

 

 

Purpose

Purchase

Refinance

Cash-Out

 

 

Collateral

Single Family Home

Condominium

Townhouse

Multifamily 2-4 Units

Planned Urban Developments

Vacation Rentals (Airbnb, Seasonal, etc…)

 

 

*Up to an 80% LTV on purchase and rate/term refinance or up to 75% on a refinance with cash-out.

**Interest Rate dependent upon credit score, loan-to-value, fixed term and DSCR. Buy-down available.