Single Rental Loans
Our single rental loan enables investors to purchase a new property to expand their rental portfolio. Investors use this DSCR loan to refinance a property for a better rate, or take cash out to access equity.
LOAN PURPOSE: Purchase, limited cash-out, or cash-out of a single rental property.
BORROWER TYPE: Entity (Single Purpose Entity) or Individual.
PROPERTY OR UNIT ACQUISITION MINIMUM: 1 Property per loan.
TERM: 30 Year Fixed.
INTEREST RATE: Call for quote.
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.
FAQ's on single rental loans: