Long Term Residential Rental Loans (1 to 8 Units)
Non-owner occupied single family homes, duplex, triplex, quad, warrantable condo and townhomes
Single property and portfolio loans
Cash-Out, refinance and finance purchase up to 80% LTV
Rates as low as 7.25%+
30 year term fully amortizing, 5/1 ARM or 5 year interest only
No upfront fees, tax returns or income verification
Fast, streamlined funding in 3 to 5 weeks
- Nationwide (primary, secondary and rural locations)
- $500,000 to $2.5 million loan amount per property
- Portfolio loans: $1 Million to $20 Million+ ($50,000 to $2.5 Million per property)
- Cash-out or refinance 80% of appraised value with 720+ credit (75% @680 to 720; lower LTV @620 to 680)
- 30 year fixed term fully amortizing or 5/1 ARM with 30 year amortizaton
- Finance 80% of purchase price
- For cash-outs: no monthly payments until 4th month after loans funded (3 months PITA escrowed)
- Rates vary by 30 year fixed versus 5/1 ARM, credit score, LTV, DSCR cash-flow and/or if buy-down rate
- Origination: varies
- Prepay: 5/4/3/2/1
- Must close in LLC, corporation or partnership name
- Recourse (non-recourse portfolio loans available with variable rates)
- No bankruptcy, foreclosure, short sales or deed in lieu in last 3 years
- Rates locked for 15 days, when appraisals received. If loan doesn’t close within 15 days, floats until cleared to close and must close within 15 days
- No seller financing or second mortgages
- Warrantable condos must be 50% owner occupied, HOA dues 15% max 60 days past due and no more than 20% owned by one person
- No condotels, mobile homes, timeshares, commercial or mixed-use
- In-house loan servicing LO
- Rent ready vacant properties financed based on area monthly rents
- Eligible borrowers: U.S. citizens, permanent residents and foreign nationals
- First time investors welcome
To submit your online loan request, click the blue GET STARTED Link for PRE- APPROVAL within 48 business hours. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL.
