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Hometown Equity Mortgage

Long Term Rental Loan

Property Types 2-4 Units, Condo, SFR
Lendding Area NATIONWIDE
Loan amount Minimum $100,000
Loan amount Maximum $3,500,000
Terms 7 / 1 year ARM, 10 / 1 year, 30 year, 40 year
Typical Days Required to Fund 20-30 Business days
Credit Score Min 640
Interest Only or Amortized Amortized and Interest Only Options available
Entities LLC - Limited Liability Corporation, Foreign National, Individual, Trust
Cross Collateralize Blanket No
Lien Position 1st
Max Points Charge by Broker 3
Prepayment Penalty 5,4,3,2,1, 1 year, 2 years, 3+ years
Intended Occupancy Tenant, Vacant
Fixed or Adjustable Fixed
Recourse Recourse
Reserve Requirement None
Updated as of 2024-04-19

Summary of all Guidelines

Loan Types Rental Portfolio

They offer financing for Rental Portfolio.

These descriptions are limited information and meant for general reference purposes.