Who are Rental Property Loans Suited For?
Our rental loans are suitable for AirB&B, VRBO or rental property owners that want to take advantage of fixed financing rates to purchase or refinance a rental property.
Property Types We Rental Property 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 Rental Property Loans Work?
We require a minimum score of 650+ and a $150,000 loan amount. All of our loans are serviced and underwritten in-house, for a 7-10 business days funding time. Once you have filled out an application and been pre-qualified for your loan you will need to provide specific documentation.
Rental Property Program Criteria
To get a Rental Property Loan started you will need:
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A minimum of 1 stabilized rental property for 12 months
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A 650+ minimum score
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$150,000 up to $2,500,000 non-owner occupied property
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2 months of recent bank statements
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Score and background check
Terms
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DSCR / Debt yield requirements on a case by case basis
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Rates from 8.25%
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6 – 36 months flexible terms
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No prepayment penalty