Long Term Rental Loan
DSCR
Program #LG331
DSCR
Program #LG331
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.