Long Term Rental Loans
Who are Long Term Rental Loans Suited For?
Center Street Lending’s long term rental loans are for rental property owners that are looking for a 30-year refinance option.
Property Types We Long Term Rental Fund
We lend on single-family rental properties, 2 to 4 units, townhomes, planned unit developments, or condominiums. All properties must be non-owner occupied. Foreign nationals are subject to a lower loan to cost (LTC) and loan to value (LTV) thresholds.
How do Long Term Rental Loans Work?
We require a minimum score of 620+ and a $100,000 loan amount. All of our loans are serviced and underwritten in-house, for 7-10 business day funding time. Once you have filled out an application and been pre-qualified for your loan you will need to provide specific documentation.
Long Term Rental Program Criteria
To get a Long Term Rental loan started you will need:
- A 620+ minimum score
- $100,000 up to $2,500,000 non-owner occupied property
- 2 months of recent bank statements
- Score and background check
Terms
- Max 80% LTV
- Rates from 4.875% – 6.5%
- 30-year term
- DSCR and minimum 3 year pre-pay (state specific)
States We Lend
- Arizona
- California
- Colorado
- D.C.
- Florida
- Georgia
- Maryland
- North Carolina
- Oregon
- Tennessee
- Texas
- Virginia
- Washington
Looking for lending in a state not listed? We do lend in other states on a case by case scenario. Give us a call to see what we can do for you.
Recent Deals
-
Longmont, CO
- Loan Type: Fix and Flip
- Loan Amount: $298,023
- LTC : 85%
-
Winnetka, CA
- Loan Type: 2 Year Rental
- Loan Amount: $588,750
- LTC : 0%
-
Scottsdale, AZ
- Loan Type: Fix and Flip
- Loan Amount: $184,005
- LTC : 87%
-
Rancho Santa Fe, CA
- Loan Type: Bridge Loan
- Loan Amount: $1,630,000
- LTC : 67%
-
Indio, CA
- Loan Type: Construction
- Loan Amount: $1,825,000
- LTC : 73%
-
Palm Springs, CA
- Loan Type: Fix and Flip
- Loan Amount: $354,250
- LTC : 86%
-
Oakland, CA
- Loan Type: Fix and Flip
- Loan Amount: $335,750
- LTC : 91%
-
Orange, CA
- Loan Type: Fix and Flip
- Loan Amount: $443,200
- LTC : 80%
-
Torrance, CA
- Loan Type: Fix and Flip
- Loan Amount: $844,000
- LTC : 80%
-
Temecula, CA
- Loan Type: Fix and Flip
- Loan Amount: $408,000
- LTC : 80%
-
San Dimas, CA
- Loan Type: Fix and Flip
- Loan Amount: $380,000
- LTC : 80%
-
Oak Park, IL
- Loan Type: Fix and Flip
- Loan Amount: $208,000
- LTC : 0%
-
Irvine, CA
- Loan Type: Fix and Flip
- Loan Amount: $2,512,500
- LTC : 79%
Testimonials
Jeremiah can answer all of my questions, so pleasant to deal with, hard-working, kept me informed and in the loop at every step.
Doug F.
There is no way I would have been able to close on my purchase in the time I did if it wasn’t for Center Street’s rapid funding. They were quick and efficient right down to every detail.
Barbara T.
I appreciate how professional the staff at Center Street has been. Even when things got a bit difficult, as they do during rehab projects, it was always a pleasure to speak with everybody at the office.