Our Portfolio Loan is designed to help rental investors unlock equity and get cash out of their existing rental investments. Consolidate multiple rental property mortgages into a single loan so you can continue to grow your portfolio.
STANDARD PORTFOLIO RENTAL LOANS
LOAN PURPOSE: Purchase or refinance a portfolio of rental properties. Refinance and acquire properties under the same transaction.
BORROWER TYPE: Entity (Special Purpose Entity). Must be a Newly Formed LLC only, unless LLC was used exclusively for a previous FACo loan transaction.
EQUITY PLEDGE: Pledge of Equity from the owner is required.
INTEREST RATE: Call for quote.
TERM: 5-, 7-, or 10-year with ballon due at end of term. Full amortization up to 30 years, with interest-only option available.
EXPERIENCE: No first time homebuyers.
MINIMUM FICO: 660 (all Guarantors).
MAXIMUM LOAN TO VALUE (LTV): Up to 75% on purchase, limited cash-out refi, and cash-out refi.
MINIMUM LOAN AMOUNT: $750K - $10MM.
PROPERTY OR UNIT ACQUISITION MINIMUM: 5 units per loan.
FOREIGN NATIONALS: Not allowed from ineligible country list - LTV is limited to 65%.
PROPERTY TYPE: Non-Owner Occupied:
- Single Family Residences (SFR)
- 2-4 unit residences
- Condominiums: warrantable and non-warrantable (with reduced leverage)
- Planned Urban Developments (PUD)
- Multi-family, 5-20 units
Is this a good option if I own multiple properties?
Yes, this is ideal to have all your properties under one single loan.
How much can I borrow in total?
You may qualify for a limit up to $10MM.
How do you calculate how much I can borrow?
We consider both the loan-to-value (LTV), which measures the fair market value, and the loan-to-cost ratio (LTC), which measures the total cost of buying and renovating. We always choose the lesser of the LTV and LTC calculations, which protects both you and our investors.
Will you lend to foreign nationals?
Yes, foreign nationals from approved countries are eligible.
What kinds of personal credit information are required?
Every lender is different and some may require a credit or background check.