Long Term Rental Loan
Single Family Rental
Program #LG423
Single Family Rental
Program #LG423
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Summary of all Guidelines | |
Loan Types | DSCR Loan |
Property Types | 2-4 Units, Condo, Mixed use, SFR |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $150,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 8% |
Interest Rate Maximum | 11.75% |
Points Minimum 1st TD | 1 |
Points Maximum 1st TD | 3 |
Terms | 30 year, 40 year |
Typical Days Required to Fund | 20-30 Business days |
Credit Score Min | 680 |
Interest Only or Amortized | Amortized |
Entities | Individual, Corp - Corporation, LLC - Limited Liability Corporation, Foreign National, LP - Limited Partnership, Trust |
Cross Collateralize Blanket | Yes |
Lien Position | 1st, 2nd |
Max Points Charge by Broker | 3.5 |
Prepayment Penalty | 1 year, 5,4,3,2,1 |
Intended Occupancy | Tenant, Vacant |
Fixed or Adjustable | Fixed |
Reserve Requirement | None |
Updated as of | 2024-01-16 |
These descriptions are limited information and meant for general reference purposes.
- Walter Fernandez