Long Term Rental Loan
DSCR
Program #LG331
DSCR
Program #LG331
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Summary of all Guidelines | |
Loan Types | DSCR Loan |
Property Types | 2-4 Units, Condo, SFR |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $125,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 8% |
Interest Rate Maximum | 10.75% |
Terms | 5 / 6 month ARM, 30 year, 40 year |
Credit Score Min | 680 |
Interest Only or Amortized | Amortized and Interest Only Options available |
Entities | Corp - Corporation, LLC - Limited Liability Corporation, Individual |
Lien Position | 1st |
Prepayment Penalty | 1 year, 2 years, 3+ years, 5,5,5,5,5 |
Documents needed | Appraisal, Lease Agreements, Rent Roll |
Intended Occupancy | Tenant |
Special Features | 40 year I/O, 40 year loan term available, Foreign National, Non-warrantable condos permitted |
Reserve Requirement | 12 months |
General Pricing or Guideline info | SINGLE RENTAL PROPERTY LOANS Individual rental properties 1-4 units, townhouses $100K – $5M Up to 75% of value Fixed rates 30 year term Pre-pay penalty: 1-5 year options No tax returns required LLCs or Corporations Foreign nationals eligible RENTAL PORTFOLIO LOANS 2+ rental properties Single family, 2-4 Units, or townhouses $250K-$5MM Up to 75% of value 30 yr Fixed Rate 30 year amortization Pre-pay penalty: 1-5 year options No cash management required LLCs or Corporations Foreign nationals eligible |
Updated as of | 2023-11-14 |
SINGLE RENTAL PROPERTY LOANS
Individual rental properties
1-4 units, townhouses
$100K – $5M
Up to 75% of value
Fixed rates
30 year term
Pre-pay penalty: 1-5 year options
No tax returns required
LLCs or Corporations
Foreign nationals eligible
RENTAL PORTFOLIO LOANS
2+ rental properties
Single family, 2-4 Units, or townhouses
$250K-$5MM
Up to 75% of value
30 yr Fixed Rate
30 year amortization
Pre-pay penalty: 1-5 year options
No cash management required
LLCs or Corporations
Foreign nationals eligible
These descriptions are limited information and meant for general reference purposes.- Bruce Lawner
COO