Single Rental Loans
Purchase or refinance a single rental property with our DSCR Single Rental Loan
- RATES STARTING AT
5.48%
*
Our Single Rental Loan enables investors to purchase a new property to expand their rental portfolio. Investors use this Debt Service Coverage Ratio (DSCR) loan to refinance a property for a better rate, or take cash out to access equity.
Key Facts About Our Single Rental Loan
- DSCR loan with no W2s, paystubs, or tax returns required
- Minimum 660 FICO
- Single Family Rental (SFR), warrantable condos, townhomes, PUD, 2-4 units eligible
- Foreign Nationals allowed
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Single Rental Loan
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LOAN PURPOSE
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Purchase, rate-term refinance, or cash-out of a single rental property
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BORROWER TYPE
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Entity required
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PROPERTY OR UNIT ACQUISITION MINIMUM
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1 property per loan
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TERM
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30-year fixed, ARM options available
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INTEREST RATE
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Call for quote
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EXPERIENCE
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Not required
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MINIMUM FICO
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660
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MAXIMUM LOAN-TO-VALUE (LTV)
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Up to 80% on purchase and rate & term. Up to 75% on cash-out
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MINIMUM LOAN AMOUNT
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$75K - $2.5MM
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VACANCY MAXIMUM
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Purchases only or leased within 30 days
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SEASONING REQUIREMENT (TO USE VALUE VS. COST BASIS)
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180 days
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RURAL PROPERTIES
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Not permitted
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FOREIGN NATIONALS
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Not allowed from ineligible country list
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PROPERTY TYPE
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Non-Owner Occupied:
- Single Family Residences (SFR) - 2-4 unit properties - Warrantable condos - Townhomes |
Term | 30 years |
Recourse | Full Recourse only |
Rate Types | 30-year fixed rate mortgage (fully amortizing or Partial IO) 5/6, 7/6, 10/6 hybrid ARMs (partial IO or fully amortizing) |
Experience | Not required |
Loan Purpose | Purchase, rate-term refinance, or cash-out of a single rental property |
Minimum FICO | 660 |
Borrower Type | Entity required |
Interest Rate | Call for quote |
Property Types | Single family residences (SFR) 2-4 unit properties Warrantable condos Townhomes PUD |
Vacancy Maximum | Purchases can be vacant & 1 unit of a 2-4 unit refinance |
Rural Properties | Not permitted |
Foreign Nationals | 65% ltv max |
Lease Requirements | Leased Units: Lower of (i) in-place rent & (ii) market rent Unleased Units: 90% of market rent |
Maximum Loan-To-Cost | If owned < 3 months, 80% of total cost basis |
Minimum Loan Amount | $75k - $2MM |
Maximum Loan-To-Value (LTV) | Up to 80% on purchase and rate & term. Up to 75% on cash-out |
Property Acquisition Minimum | 1 property per loan, up to 4 units total |
Minimum Debt Service Coverage Ratio (Gross Rent/PITIA) | 1.05x |
Seasoning Requirement (To use value vs. cost basis) | 90 days |
Loan Types | 30-Year fixed rate mortgage (fully amortizing or Partial IO) 5/6, 7/6, 10/6 hybrid ARMs (partial IO or fully amortizing) |
Over $8 Billion in loans for Real Estate Investors
- We treat your rental property like your own small business, and we underwrite to the cash flow it will produce, not your personal income.
- We don’t limit the number of rental properties you can own, so we give you maximum flexibility.
- We provide personalized service throughout the entire loan process – from quote to close.
We have the product to meet your needs.
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