Long Term Rental Loan
30 Year Loans for Residential and Vacation Rental Properties
Program #LG60
30 Year Loans for Residential and Vacation Rental Properties
Program #LG60
![Visio Lending](https://lendding.com/wp-content/uploads/2024/09/2087398000046614029_accounts_photo-150x150.png)
Summary of all Guidelines | |
Loan Types | DSCR Loan |
Property Types | 2-4 Units, Multi Family, SFR |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $100,000 |
Loan amount Maximum | $3,000,000 |
Interest Rate Minimum | 6.75% |
Points Maximum 1st TD | 3 |
Terms | 30 year |
Credit Score Min | 680 |
Interest Only or Amortized | Amortized and Interest Only Options available |
Entities | LLC - Limited Liability Corporation, LP - Limited Partnership, Corp - Corporation, Individual |
Lien Position | 1st |
Max Points Charge by Broker | 5 |
Prepayment Penalty | 5,4,3,2,1, 5,5,5,5,5, 3,2,1, 1 year |
Intended Occupancy | Vacant, Tenant |
Reserve Requirement | 6 months |
General Pricing or Guideline info | * Min loan $100,000 amount & min value of $150,000 * We take 3rd party appraisals with no transfer letter- reach out for more information, we review dozens of competitor's appraisals per month! * Rates on LTRs just dropped 94.5 bps since December! * Par pricing is back for our brokers - 45 day locks at appraisal payment! * 80 LTV on long-term rental purchase and RT refi- 75% cash-out * 1.00 gross DSCR on all loans - DSCR under 1 available. Interest-Only available. * Rural locations usually OK-no hit to LTV - exceptions apply * We love big loans- no hit to rate from 200k-1.5MM * YSP up to 2% is available * No NMLS required except CA and AZ |
Updated as of | 2024-08-07 |
* Min loan $100,000 amount & min value of $150,000
* We take 3rd party appraisals with no transfer letter- reach out for more information, we review dozens of competitor's appraisals per month!
* Rates on LTRs just dropped 94.5 bps since December!
* Par pricing is back for our brokers - 45 day locks at appraisal payment!
* 80 LTV on long-term rental purchase and RT refi- 75% cash-out
* 1.00 gross DSCR on all loans - DSCR under 1 available. Interest-Only available.
* Rural locations usually OK-no hit to LTV - exceptions apply
* We love big loans- no hit to rate from 200k-1.5MM
* YSP up to 2% is available
* No NMLS required except CA and AZ
- John Sperling