Long Term Rental Loan
DSCR Loan
Program #LG158
DSCR Loan
Program #LG158
Summary of all Guidelines | |
| Loan Types | DSCR Loan |
| Property Types | 2-4 Units, Condo, SFR |
| Lendding Area | Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Minnesota, Montana, Nevada, New Jersey, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Loan amount Minimum | $75,000 |
| Loan amount Maximum | $1,500,000 |
| Interest Rate Minimum | 6.75% |
| Terms | 10 year, 20 year, 5/1 ARM, 7/1 ARM, 30 year |
| Credit Score Min | 660 |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Fees | Service |
| Cross Collateralize Blanket | Yes |
| Lien Position | 1st |
| Prepayment Penalty | 3+ years |
| General Pricing or Guideline info | FLEXIBLE TERMS We offer multiple loan terms, rates, and leverage based on your borrower's FICO. LOW-DOCUMENT PROCESSING Move quickly with no personal income verification required. NO HARD CREDIT PULL We don’t use hard credit pulls so your borrower's credit score will never be affected. STREAMLINE TECHNOLOGY AND SERVICE Access your borrower's loan details easily on our online dashboard and enjoy reliable support from our team. UTILIZE YSP Add up to 2.50% in YSP. Paid out after loan closing. 90-DAY CASH OUT PERIOD Refinance your borrower's property to take out equity in just 90 days after they acquired the property with financing. Or leverage your borrower's property immediately if owned free and clear. DISCLOSURE 1 Non owner-occupied rental properties only. 2 Does not include title insurance, escrow, or third party fees. 3 Cash-out LTV based solely off of appraised value, not cost basis. 4 Rate lock extensions not available. 5 5/1 ARM, and 7/1 ARM are 30-year adjustable-rate mortgage products. The change in interest rate is tied to a published index reflecting market conditions. We offer a fully amortized option for these products. 6 SFR and Det. PUD only. DSCR ratio and FICO score restrictions apply. 7 For properties with no lease or a lease term of less than 6 months, property income will be based on market rent. For properties with a minimum 6 month lease term, property income is the lesser of lease amount or 100% market rent. 8 As allowable by state. Loans currently available for US citizens and permanent residents. |
| Updated as of | 2023-05-05 |
FLEXIBLE TERMS
We offer multiple loan terms, rates, and leverage based on your borrower's FICO.
LOW-DOCUMENT PROCESSING
Move quickly with no personal income verification required.
NO HARD CREDIT PULL
We don’t use hard credit pulls so your borrower's credit score will never be affected.
STREAMLINE TECHNOLOGY AND SERVICE
Access your borrower's loan details easily on our online dashboard and enjoy reliable support from our team.
UTILIZE YSP
Add up to 2.50% in YSP. Paid out after loan closing.
90-DAY CASH OUT PERIOD
Refinance your borrower's property to take out equity in just 90 days after they acquired the property with financing. Or leverage your borrower's property immediately if owned free and clear.
DISCLOSURE
1 Non owner-occupied rental properties only.
2 Does not include title insurance, escrow, or third party fees.
3 Cash-out LTV based solely off of appraised value, not cost basis.
4 Rate lock extensions not available.
5 5/1 ARM, and 7/1 ARM are 30-year adjustable-rate mortgage products. The change in interest rate is tied
to a published index reflecting market conditions. We offer a fully amortized option for these products.
6 SFR and Det. PUD only. DSCR ratio and FICO score restrictions apply.
7 For properties with no lease or a lease term of less than 6 months, property income will be based on
market rent. For properties with a minimum 6 month lease term, property income is the lesser of lease
amount or 100% market rent.
8 As allowable by state. Loanss currently available for US citizens and permanent residents.
