Long Term Rental Loan
Long Term Loan
Program #LG115
Long Term Loan
Program #LG115
Summary of all Guidelines | |
| Loan Types | DSCR Loan |
| Property Types | 2-4 Units, Condo, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $125,000 |
| Loan amount Maximum | $2,000,000 |
| Interest Rate Minimum | 7.5% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 1.5 |
| Terms | 30 year |
| Typical Days Required to Fund | 20-30 Business days |
| Credit Score Min | 600 |
| Interest Only or Amortized | Interest Only |
| Fees | Legal Review |
| Lien Position | 1st |
| Intended Occupancy | Tenant |
| General Pricing or Guideline info | - Term Length: 30 Yr fixed, 5/1 Arm, 10/1 Arm - Time to Close: 3 to 4 Weeks. - Seasoning Required: 3 Months. - Acceptable Markets: Nationwide Urban, Suburban, and Rural. - Minimum Experience: We Lend to First-timers. - Acceptable Property Types: 1-4 Family, Multifamily, Condos, PUDs. - Closing Fees: $1,000 |
| Updated as of | 2024-05-24 |
- Term Length: 30 Yr fixed, 5/1 Arm, 10/1 Arm
- Time to Close: 3 to 4 Weeks.
- Seasoning Required: 3 Months.
- Acceptable Markets: Nationwide Urban, Suburban, and Rural.
- Minimum Experience: We Lend to First-timers.
- Acceptable Property Types: 1-4 Family, Multifamily, Condos, PUDs.
- Closing Fees: $1,000
- Brad Sharp
Senior Loan Officer
