RESIDENTIAL RENT
Long Term
Private Long-term financing for rental properties
Finance a new purchase, refinance a property you own, or free up cash in your rental portfolio to gain asset appreciation and cash flow without the hassle of bank underwriting rules.
Residential Rent Terms
PROPERTY TYPE
Single Family/ 2-4 Unit / Townhomes / Planned Unit Development (PUD)/ Warrantable Condos
Loan Amount
100,000.00 to 3,000,000.00 ( Higher amount on individual basis)
TYPE OF LOAN
30-Year Fixed or Adjustable-rate mortgages (ARMs) : 5/1 , 10/1 (Partial IO or Amortizing)
MAXIMUM LOAN TO COST
N/A
MAXIMUM LOAN TO ARV
N/A
MAXIMUM LOAN TO VALUE
- PURCHASE: 70%
- REFINANCE: 70%
- CASHOUT: 70%
Term Length
30 Year
BASE RATE
6,5%
MINIMUM FICO SCORE
650
PREPAYMENT PENALTIES
5 YEARS DECLINING (5% to 1%)
FOREIGN NATIONALS
ACCEPTED + 0.5 to base rate
REQUIREMENTS
- Income based in rental cash flow subject to a DSCR ratio of 1:10
- 3 Month of Bank Statements
- Entity Documents (LLC or Corp)
- Property Tax Bill
- Evidence of Insurance
- Non Owner Occupancy Certification
- SSN for credit Report and background check
- HOA Documents
- 6 Months Liquidity / Reserves
- Foreign Nationals: Asset Sourced and seasoned for 60 days in US FDIC Insured bank