RENTAL LOANS
Single Property Rentals & Rental Portfolios
Residential and Mixed-Use Perm Loans (1-8 Units)
Single Property Rentals
Property Type
Single Family/2-8 Units/Townhomes/PUD/Warrantable Condos
Mixed Use (50%+ Residential)
No Seasonal/Vacation Rentals/AirBnB Allowed
Loan Amounts
$50,000 - $2,000,000
Loan Types
30-Yr Fixed Rate Mortgage (Fully Amortizing)
5/1, 7/1 And 10/1 Hybrid ARMs (Partial IO Or Fully Amortizing)
Term Length
30 Years
Maximum Loan To Cost
If Owned >180 Days, No LTC Limit
If Owned < 90 Days, 80% Of Purchase Price
If Owned Between 91 And 180 Days, Additional 5% Haircut On Max Allowable LTV
Maximum Loan To As-Is Value (Subject To Qualifying FICO)
Purchase/Rate Term Refinance: 80%
Cash Out Refinance: 75%
Minimum Debt Service Coverage Ratio
Single Property: 1.20x (Gross Rent/PITIA)
Recourse
Non-Recourse With Bad Boy Carveouts & Pledge Of Equity
Minimum Guarantor FICO
Single Property: 620
Lease/Rent Requirements
Leased Units: Lower Of In-Place Rent & Market Rent
Unleased Units: 90% Of Market Rent
Rental Portfolios
Property Type
Single Family/2-8 Units/Townhomes/PUD/Warrantable Condos
Mixed Use (50%+ Residential)
No Seasonal/Vacation Rentals/AirBnB Allowed
Loan Amounts
$75,000 - $20,000,000+
Loan Types
30-Yr Fixed Rate Mortgage (Fully Amortizing)
5/1, 7/1 And 10/1 Hybrid ARMs (Partial IO Or Fully Amortizing)
Term Length
30 Years
Maximum Loan To Cost
If Owned >180 Days, No LTC Limit
If Owned < 90 Days, 80% Of Purchase Price
If Owned Between 91 And 180 Days, Additional 5% Haircut On Max
Allowable LTV
Maximum Loan To As-Is Value (Subject To Qualifying FICO)
Purchase/Rate Term Refinance: 75%
Cash Out Refinance: 70%
Minimum Debt Service Coverage Ratio
1.20x (Net Cash Flow/Debt Service)
Recourse
Non-Recourse With Bad Boy Carveouts & Pledge Of Equity
Minimum Guarantor FICO
640
Lease/Rent Requirements
Minimum Occupancy Rate Of 90% By Unit Count
Fix To Rent
Residential Bridge To Perm (1-4 Units)
Bridge
Loan Purpose
Bridge-To-Perm Loan For Acquisition, Renovation And Long Term Financing Of Eligible Properties.
Property Types
Residential Rental 1-4 Family Townhomes/Condominiums
Loan Amount
Single Property: $50,000 - $2,000,000
Loan Types
Fixed Rate IO
Maximum Loan To Cost
90% Of Purchase
100% Of Rehab Costs
Maximum Loan To Value
75% ARV
Minimum Debt Service Coverage Ratio
N/A
Term Length
Up To 18 Months
Recourse
Full Recourse
Perm
Loan Purpose
Bridge-To-Perm Loan For Acquisition, Renovation And Long Term Financing Of Eligible Properties.
Property Types
Residential Rental 1-4 Family Townhomes/Condominiums
Loan Amount
Single Property: $50,000 - $2,000,000
Loan Types
30-Yr Fixed Rate Mortgage (Fully Amortizing)
5/1, 7/1 And 10/1 Hybrid ARMs (Partial IO Or Fully Amortizing)
Maximum Loan To Cost
Only LTV Limits Apply If Owned >90 Days
Maximum Loan To Value
75% As-Is: US Citizens And Permanent Residents
70% As-Is: Non-Permanent Resident Aliens
65% As-Is: Foreign Nationals
Minimum Debt Service Coverage Ratio
1.20x
Term Length
30 Years
Recourse
Full Recourse And Non Recourse Options
