Long Term Rental Loan
Single Family Rental - LG423
Single Family Rental - LG423
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 |
| Program Code | LG423 |
These descriptions are limited information and meant for general reference purposes.
