Key Facts About Loan:
Key Facts About Loan:
- DSCR loan with no W2s, paystubs, or tax returns required
- No-fee alternative valuation and rent schedule option now available (for eligible properties18)
- Funding up to 80% LTV for purchases and rate & term, up to 75% cash-out3
- Property loans from $75K to $2MM
- Single Family Rental (SFR), condos, townhomes, PUD, 2-4 units eligible
- Foreign Nationals allowed (70% LTV max, eligible countries only)
- 30-year property loan terms
- Minimum 640 FICO
Single Rental Loan
LOAN PURPOSE
Purchase, limited cash-out, or cash-out of a single rental property (3)
BORROWER TYPE
Entity (Single Purpose Entity) or Individual
PROPERTY OR UNIT ACQUISITION MINIMUM
1 Property per loan
TERM
30 Year Fixed
INTEREST RATE1
Call for quote
EXPERIENCE
No first time homebuyers
MINIMUM FICO
640
MAXIMUM LOAN TO VALUE (LTV)
Up to 80% on purchase and rate & term. Up to 75% on cash-out
MINIMUM LOAN AMOUNT
$75K - $2MM
VACANCY MAXIMUM
Any vacancy requires a max LTV of 60% on refinance
SEASONING REQUIREMENT (TO USE VALUE VS. COST BASIS)
90 Days
RURAL PROPERTIES
Ineligible
FOREIGN NATIONALS
Not allowed from ineligible country list - LTV is limited to 70%
PROPERTY TYPE
Non-Owner Occupied:
- Single Family Residences (SFR)
- 2-4 unit properties
- Condos
- Townhomes
832 301 6541
All other trademarks are the property of their respective owners, not endorsed or affiliated with any government entity. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Visit the NMLS Consumer Access website for regulatory information about us.
Figure: 7 TAC § 80.200(b) CONSUMER WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
PROSPERITY FUNDING, LLC. NMLS: 1868681
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