Long Term Rental Loan
DSCR Rental Loan
Program #LG13
DSCR Rental Loan
Program #LG13
Summary of all Guidelines | |
| Loan Types | DSCR Loan |
| Property Types | 2-4 Units, Multi Family, SFR |
| Lendding Area | alabama, arkansas, colorado, connecticut, d-c, delaware, florida, georgia, indiana, iowa, kansas, kentucky, louisiana, maryland, massachusetts, michigan, mississippi, missouri, nebraska, new-jersey, north-carolina, ohio, oklahoma, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, west-virginia, wisconsin |
| Loan amount Minimum | $150,000 |
| Loan amount Maximum | $1,500,000 |
| Interest Rate Minimum | 9.5% |
| Terms | 10 year, 15 year, 20 year, 25 year, 30 year |
| Credit Score Min | 660 |
| Interest Only or Amortized | Interest Only |
| Entities | LLC - Limited Liability Corporation, LP - Limited Partnership, Corp - Corporation |
| Lien Position | 1st |
| General Pricing or Guideline info | - Rate/Term: Up to 80% - Property Type: 5-10 unit multifamily. - Property Restrictions: Rural or remote properties Restrictions; Greater than 2 acres; Mixed use properties. - Guarantors: All owners with management authority or > 20% ownership must sign guarantees. - Background: Bankruptcies- 3 years; Foreclosures- 3 years; No felony convictions. - Purpose: Purchase, rate/term, cash out. - Minimum Credit Score: 660, based on lowest of all guarantors. - Property Must be in good condition and Condition ready to sell or rent (C4 and Q5 or better). - Strategy: Long-term hold. - Reserves: 3 months PITIA if leased; 9 months if vacant. - Investment properties only. - Get Pre-Approved in Minutes. ACCELERATE YOUR SUCCESS We know time is money. We'll work hard to close your loan quickly and make the process easy. At each step, our skilled team will help you move fast. |
| Updated as of | 2023-10-19 |
- Rate/Term: Up to 80%
- Property Type: 5-10 unit multifamily.
- Property Restrictions: Rural or remote properties Restrictions; Greater than 2 acres; Mixed use properties.
- Guarantors: All owners with management authority or > 20% ownership must sign guarantees.
- Background: Bankruptcies- 3 years; Foreclosures- 3 years; No felony convictions.
- Purpose: Purchase, rate/term, cash out.
- Minimum Credit Score: 660, based on lowest of all guarantors.
- Property Must be in good condition and Condition ready to sell or rent (C4 and Q5 or better).
- Strategy: Long-term hold.
- Reserves: 3 months PITIA if leased; 9 months if vacant.
- Investment properties only.
- Get Pre-Approved in Minutes.
ACCELERATE YOUR SUCCESS
We know time is money. We'll work hard to close your loan quickly and make the process easy. At each step, our skilled team will help you move fast.
- Molly Knapik
Inside Loan Originator
