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.

EXPERIENCE: None.

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.

FAQ's on single rental loans:

Is there a limit to the amount of money I can borrow?
You can borrow between $75,000 and $2MM, depending on the property and its location.
 
Can I live in the property that I am financing with a single-family rental loan?
No. These loans are for investment properties only. Properties financed with a single family loan also can’t be rented to a borrower’s family members.
 
What kinds of property will you consider?
Non-owner occupied: Single family residences, 2-4 family units, condos and townhouses. (5 to 20 unit multi-family rentals will only be considered as portfolio investments.)
 
How much experience as a landlord do I need to qualify for a loan?
We consider borrowers who are jumping into the rental investment pool for the first time, and we also have clients who own hundreds of rental properties. However, first-time homebuyers do not qualify for single rental loans.