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Nationwide Mortgage

Long Term Rental Loan
- LG429

Nationwide Mortgage

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 $3,000,000
Interest Rate Minimum 6.5%
Interest Rate Maximum 12.75%
Terms 30 year, 40 year
Typical Days Required to Fund 31-40 Business days
Credit Score Min 575
Interest Only or Amortized Amortized and Interest Only Options available
Fees Underwriting
Entities Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Individual, Trust
Lien Position 1st
Max Points Charge by Broker 4
Prepayment Penalty No Prepayment Penalty, 1 year, 2 years, 3+ years, 5,4,3,2,1, 5,5,5,5,5
Documents needed Application, Appraisal, Credit Report, Driver's license, Entity documents for LLC, Corp or Trust, Lease Agreements, Mortgage Statement for Subject Property, Purchase Contract, Rent Roll
Intended Occupancy Tenant
Special Features Foreign National
Updated as of 2024-03-14
These descriptions are limited information and meant for general reference purposes.