Rental Home Financing Investment Loans
Lending Matrix for Blanket loans of 3 or more rental doors on residential rental property.
| Geography | Nationwide Financing (Except North Dakota, South Dakota, Alaska & Hawaii) | |||||||||
| Loan Purpose | Purchase or Refinance, Cash out | |||||||||
| Loan Amount Range | $300k-$50MM | |||||||||
| Terms | 5 or 10 year fixed rate balloon with up to a 30 year amortization | |||||||||
| MAX LTV | Up to 75% on stabilized lease ready properties (SFR, TH, 2-4 family, Condos) & Multi units (max 20 units) | |||||||||
| Credit Grid | No Bk’s last 2 years and No Foreclosures | |||||||||
| Recourse Options |
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| Non Recourse | 620 Minimum credit score for US Citizens LTV for Non-recourse will be based on overall credit/loan profile Foreign Nationals treated as Non-recourse, OK up to 75% |
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| Minimum DSCR | 1.15% ** Interest only available at 70% LTV and below, 670 score needed | |||||||||
| Minimum Property Value | $50k for 75% LTV, $40k- $49.9k limited to 50% LTV Multi Family $30k per unit | |||||||||
| Prepayment Penalties |
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| Seasoning | After 90 days of ownership we will lend off appraised value <90 days ownership we will lend off cost basis (purchase price + rehab) |
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| Occupancy |
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| Fees | Third party Appraisal Fees collected upfront at deposit to submit RHF charges 1-2% origination and $2500 underwriting fee at close Customary title charges at close No application fees |
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| General UW Tips | Loan is assumable with lender approval, with a fee equal to the >$10k or 1% of the loan amount Monthly payment includes, Taxes, Insurance and Capex Capex- $450 SFR- $350 2-4 Per Unit- $250 for multi units and condos (per year) No income verification- qualifies on the cash flow of the portfolio |