Rental Loans
This is the perfect financing tool for real estate investors. Use the rental income from your investment properties to grow your portfolio.
Rental Loans
Rental Loans are a financing option for investors looking for a long-term solution, and a fixed rate. Since the major focus is on the DSCR (Debt-Service Coverage Ratio) of the property and not so much on the individuals, qualifying is very simple. This loan program is perfect for those income producing investment properties.
Rental Loan Program Details
- 1.Loan Amount: $100,000 to $10,000,000
- 2.Max LTV :
- Purchase : Lesser of 80% of Appraised Value or Purchase Price (70% for International Investors)
- Refinance: 80% of Appraised Value (65% for International Investors)
- Cash-Out: 75% of Appraised Value (60% for International Investors)
- 3.Fixed Rates: 3.99% – 6.99%
- 4. Amortized Payments: Monthly Principal and Interest payments.
- 5.Term of loan: 30-Year
- 6.Negotiable Prepayment Penalty
Qualifications and Conditions
- 1.Minimum DSCR (Rental Income / Debt Service): 1.00
- 2.Min Fico:640
- 3.Rental in place: Not Required For 1 to 4 Units.
- 4.Additional Conditions for international investors
- Max LTV reduced
- No Credit History in the US needed
Estimated Closing Costs
- 1.Origination Fee: 3.5% max
- 2.Underwriting Fee: $1,500
- 3. Legal: $750 – $1,500
- 4.Appraisal Fee: $500-$1,200
- 5.Single Family Residences
- 6. Title Insurance and recording fees: 1%(Approximate)
Property Types:
- 1.Condominiums
- 2.Single Family Residence
- 3.2 to 4 Unit Multifamily
- 4.Townhouses
Initial Requirements
- 1.Loan Application
- 2.Last 3 bank statements (US bank account)
- 3. Copy of Driver’s License
- 4.Credit Report
- 5.Borrowing Entity docs
- 6.Purchase Contract (If Purchase)
- 7.Property Insurance
- 8.Schedule of Costs for the subject property:
- Real Estate Taxes
- Insurance
- HOA (if applicable)
- 9.Lease Agreement (if leased)
Rental Loan Program Details
- Loan Amount: $100,000 to $10,000,000
- Max LTV :
- Purchase :70% of Appraised Value
- Refinance: 65% of Appraised Value
- Cash-Out: 65% of Appraised Value
- Fixed Rates and Variable Rates
- Amortization: up to up to 30 years
- Term of loan: up to 30-Year
- Negotiable Prepayment Penalty
Qualifications and Conditions
- Minimum DSCR (Rental Income / Debt Service):
- 1.00
- Min Fico:640
- Rental in place: Not Required For 1 to 4 Units.
- Additional Conditions for international
- investors
- Max LTV reduced
- No Credit History in the US needed
- Title Insurance and recording fees: 1%(Approximate)
Estimated Closing Costs
- Origination Fee: 3.5% max
- Underwriting Fee: $4,000
- Legal: $5,000
- Appraisal Fee and other Third-Party Cost
- Title Insurance and recording fees: 1%(Approximate)
Initial Requirements
- Loan Application
- Last 3 bank statements (US bank account)
- Copy of Driver’s License
- Borrowing Entity docs
- Purchase Contract (If Purchase)
- Lease Agreement (If Leased)
- Schedule of Costs for the subject property:
- Real Estate Taxes
- Insurance
- HOA (if applicable)
Additional Requirements for Multifamily and other commercial properties
- Last 2 years of operations Financial statements
- Last 2 years of personal/Business Tax returns.
- Rent Roll
Requirements For International Investors:
- Valid Visa
- Valid Passport
- No credit history in the U.S needed.
Get a proposal within 24 to 48 hours.
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