Long Term Rental Loan
EasyRent - LG285
EasyRent - LG285
Summary of all Guidelines | |
| Loan Types | DSCR Loan |
| Property Types | 2-4 Units, Condo, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $3,500,000 |
| Interest Rate Minimum | 6% |
| Terms | 30 year, 5 / 6 month ARM |
| Credit Score Min | 640 |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, LP - Limited Partnership, Trust |
| Lien Position | 1st |
| General Pricing or Guideline info | - Property Types: Residential, Short-Term Rental, Vacation Rental up to 10 units. - Occupancy: Long-Term, Medium-Term, or Short-Term Rentals, Vacancy OK (on Acquisitions), no operating history required on STRs. - Loan Structure: 30-Year Fixed Rate Mortgage Loans, Flexible Prepayment Penalties, Partial IO (10-Years) Available, Entities (i.e. LLCs) and partners welcomed. - DTI: Not Applicable (We don’t require tax returns or evaluate your personal income or finances when evaluating your application). - Fees & Deposits: 0-3% Closing Fee, $1,000 Underwriting Fee, $1,500 Pass-Through Deposit (covering third-party loan costs). - DSCR: 0.75x minimum. |
| Updated as of | 2024-02-23 |
| Program Code | LG285 |
- Property Types: Residential, Short-Term Rental, Vacation Rental up to 10 units.
- Occupancy: Long-Term, Medium-Term, or Short-Term Rentals, Vacancy OK (on Acquisitions), no operating history required on STRs.
- Loans Structure: 30-Year Fixed Rate Mortgage Loanss, Flexible Prepayment Penalties, Partial IO (10-Years) Available, Entities (i.e. LLCs) and partners welcomed.
- DTI: Not Applicable (We don’t require tax returns or evaluate your personal income or finances when evaluating your application).
- Fees & Deposits: 0-3% Closing Fee, $1,000 Underwriting Fee, $1,500 Pass-Through Deposit (covering third-party loan costs).
- DSCR: 0.75x minimum.
