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:
A minimum of 1 stabilized rental property for 12 months
A 650+ minimum score
$150,000 up to $2,500,000 non-owner occupied property
2 months of recent bank statements
Score and background check
DSCR / Debt yield requirements on a case by case basis
Rates from 8.25%
6 – 36 months flexible terms
No prepayment penalty