Rental Loans

Long-term financing for rental property Investors. Finance a Single Property or Portfolio new Purchase, Refinance to stabilize terms, or Refinance & take cash-out to acquire additional rental properties & increase your portfolio & cash-flow. Check out our many options for Rental Loans below:

Premier Single Property Rental Loan Overview

Loan Purpose

Borrower Type

Eligible Properties

Experience

Occupancy

Minimum DSCR




Ineligible Properties



Minimum FICO

Entity or Individual (see full matrix for details)

80% Purchase or Limited Cash-Out; 75% Cash-Out

$100,000 Minimum to $3,000,000 Maximum

1 rehabbed or constructed property sold or stabilized in the last 36 months OR 12 months experience owning income-producing real estate within the most recent 36 months

1.00 required

680

Loan Amount

LTV Maximum

Purchase, limited cash-out (includes delayed financing), or cash-out

Single Family Residences, attached or detached (inc. PUD), warrantable condos and 2-4 unit properties

Non-owner occupied, business purpose only

Rural, Mixed-Use, Manufactured, Non-Warrantable Condos, Condotels, Farms, Storage Facilities, Commercial Properties, Land, Section 8, Modular Homes, Private Roads, Unpermitted Additions Legal Non-Conforming that can't be rebuilt, among others as indicated in guidelines

Properties listed and on the market for longer than 180 days; Credit Policy review & exception required. The lowest list price since the property has been listed on MLS must be utilized for loan valuation purposes


Refinances of a Property Listed for Sale in the last 12 Months


Loan Purpose

Borrower Type

Eligible Properties

Occupancy

Minimum DSCR



Ineligible Properties















Minimum FICO

720

Non-owner occupied

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

Single Family Residences, attached or detached (inc. PUD)

Rural, 2+ Unit Properties, Mixed-Use, Manufactured, Warrantable & Non-Warrantable Condos, Condotels, Farms, Storage Faciliites, Commercial Properties, Land, Section 8, Modular Homes, Private Roads, Unpermitted Additions Legal Non-Conforming that can't be rebuilt, among others as indicated in guidelines.

1.20 required

$150,000 Minimum to $2,000,000 Maximum

80% Purchase or Limited Cash-Out; 75% Cash-Out

Loan Amount

LTV Maximum

Standard Single Property Rental Loan Overview

Loan Purpose

Borrower Type

Eligible Properties

Occupancy

Minimum DSCR

Ineligible Properties











Minimum FICO

SPR Min FICO - standard

Non-owner occupied

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

• Single Family Residences, attached or detached (inc. PUD)
• 2-4 Unit
• Warrantable Condo
• Non-Warrantable Condo (65% max LTV)

Rural, Mixed-Use, Manufactured, Condotels, Farms, Storage Faciliites, Commercial Properties, Land, among others as indicated in guidelines

1.10 required

$90,000 Minimum to $3,000,000 Maximum

80% Purchase or Limited Cash-Out; 75% Cash-Out

Condos >25 years old and >5 stories must have an acceptable structural inspection reflecting no structural issues

Loan Amount

LTV Maximum

FL Condo Requirements

Loan Purpose

Borrower Type

Eligible Properties

Occupancy

Minimum DSCR

Ineligible Properties

Minimum FICO

SPR Min FICO - standard

Non-owner occupied

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

• Single Family Residences, attached or detached (inc. PUD)
• 2-4 Unit
• Warrantable Condo
• Non-Warrantable Condo (65% max LTV)

Rural, Mixed-Use, Manufactured, Condotels, Farms, Storage Faciliites, Commercial Properties, Land, among others as indicated in guidelines

1.10 required

$90,000 Minimum to $3,000,000 Maximum

80% Purchase or Limited Cash-Out; 75% Cash-Out

Condos >25 years old and >5 stories must have an acceptable structural inspection reflecting no structural issues

Loan Amount

LTV Maximum

FL Condo Requirements

Loan Purpose

Borrower Type

Eligible Properties

Occupancy

Minimum DSCR

Ineligible Properties

Minimum FICO

660

Non-owner occupied, business purpose only

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

• Single Family Residences, attached or detached (inc. Condo/PUD)

• 2-4 Units: max 80% LTV

• Warrantable Condo

• Non-Warrantable Condos

• Condotel

Rural, Mixed-Use, Manufactured, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines

1.00 required

$75,000 Minimum to $3,000,000 Maximum

85% Purchase; 80% Limited Cash-Out; 75% Cash-Out

Loan Amount

LTV Maximums

3-Year PPP required. The lowest list price since the property has been listed on MLS must be utilized for loan valuation purposes. Properties listed and on the market for longer than 180 days; Credit Policy review & exception required.


Refinance of Property Listed for Sale in the last 6 Months


Expanded Single Property Rental Loan Overview

Loan Purpose

Borrower Type

Eligible Properties


Ineligible Properties

Occupancy

Minimum DSCR

Loan Amount

Minimum FICO

660

Non-owner occupied, business-purpose only

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

Rural, Mixed-Use, Manufactured, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines

• Single Family Residences, attached or detached (inc. Condo/PUD)

• 2-4 Units

• Warrantable Condo

• Non-Warrantable Condo (5% Reduction from Max LTV; See new Appendix B to SPR Guidelines)

0.80

$100,000 Minimum to $3,000,000 Maximum

Properties listed and on the market for longer than 180 days; Credit Policy review & exception required. The lowest list price since the property has been listed on MLS must be utilized for loan valuation purposes


Refinance of Property Listed for Sale in the last 6 Months


Foreign National Single Property Rental Loan Overview

Loan Purpose

Borrower Type

Eligible Properties

Occupancy

Minimum DSCR

Ineligible Properties

Minimum FICO

700, if credit score available

Non-owner occupied, business purpose only

75% Purchase; 70% Limited Cash-Out; 65% Cash-Out

Loan Amount

LTV Maximums


Properties Listed for Sale in the last 6 Months




Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

• Single Family Residences, attached or detached (inc. Condo/PUD)
• 2-4 Units
• Warrantable Condo
• Non-Warrantable Condo
• Condotel

Rural, Mixed-Use, Manufactured, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines

3-Year PPP required. The lowest list price since the property has been listed on MLS must be utilized for loan valuation purposes. Properties listed and on the market for longer than 180 days; Credit Policy review & exception required.

1.00 required

$100,000 Minimum to $2,000,000 Maximum

Loan Purpose

Borrower Type


Eligible Properties





















Ineligible Properties






Occupancy

Minimum DSCR



Loan Amount

State Specific Requirements

FL Condo Requirements

Minimum FICO

SPR Min FICO

Max 75% LTV for Purchase and Max 70% LTV for Refinance in AZ, CT, ID, IL, LA, NJ, NY

Condos >25 years old and >5 stories must have an acceptable structural inspection reflecting no structural issues

Non-owner Occupied

SPR Loan Purpose

Entity or Individual (see full matrix for details)

Ineligible Properties - expand

• Single Family Residences, attached or detached (inc. PUD)
• 2-4 Unit (75% max LTV)
• Warrantable Condo (75% max LTV)
• Non-Warrantable Condo (65% max LTV)

No minimum, but 1.00 required at max LTV

$100,000 Minimum to $3,000,000 Maximum

Multifamily Rental Loan Overview (single property)

Loan Purpose

Borrower Type


Eligible Properties


Occupancy

Minimum DSCR

Ineligible Properties












Minimum FICO

SPR Min FICO

Max 75% LTV for Purchase and Max 70% LTV for Refinance in AZ, CT, ID, IL, LA, NJ, NY

Non-owner Occupied

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity or Individual (see full matrix for details)

• 5-8 Unit Multi-Family
• 2-8 Unit Mixed-Use

Rural, Mixed-Use, Manufactured, Condotels, Farms, Storage Faciliites, Commercial Properties, Land, among others as indicated in guidelines

1.00 required

$400,000 Minimum to $2,000,000 Maximum

Loan Amount

State Specific Requirements

Loan Purpose

Borrower Type

Eligible Properties

Occupancy

Minimum DSCR


Ineligible Properties


Minimum FICO

700

Non-owner occupied, business purpose only

Purchase, limited cash-out (includes delayed financing), or cash-out

Entity only (see full matrix for details)

5-8 Unit Multifamily

Any properties listed for sale in the last 6 months, Rural, Mixed-Use, Manufactured, Non-Warrantable Condos, Condotels, Farms, Storage Faciliites, Commercial Properties, Land, among others as indicated in guidelines

1.00 required

$250,000 Minimum to $3,000,000 Maximum

Loan Amount

Portfolio Rental Loan Overview (blanket multiple properties)

Loan Purpose

Borrower Type

Eligible Properties

Required Property Count

Minimum DSCR

Ineligible Properties



Minimum FICO

700

Minimum 2 Properties and Maximum 10 Properties

Purchase, limited cash-out (includes delayed financing), or cash-out

(combination of purchase and refinance in one loan not allowed)

Entity only (see full matrix for details)

• Single Family Residences, attached or detached (inc. Condo/PUD)

• 2-4 Units

• Warrantable Condo

Rural, Mixed-Use, Manufactured, Non-Warrantable Condos, Condotels, Farms, Storage Facilities, Commercial Properties, Land, among others as indicated in guidelines

1.10 required

$400,000 Minimum to $5,000,000 Maximum

$75,000 Minimum to $1,000,000 Maximum

80% Purchase or Limited Cash-Out; 75% Cash-Out

Loan Amount Total

Min/Max Loan Amount Per Property

LTV Maximums

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