30 Year Rental Loans30 Year Fixed "DSCR" Loans
Rates from 5.85% Debt Service Coverage Ratio loans uses the borrowers credit score and rental income as qualifier for the loan. "DSCR" is calculated as follows: Rental Income divided by the principle, interest, taxes and insurance (PITI). Rent / PITI = DSCR (i.e if Rent is $1200 and PITI is $1000, then the DSCR is 1.2 (1200 / 1000 = 1.2) Bank statements are usually required with 3-6 months reserves, but tax returns, check stubs, and other income documents are not required for loan approval. Non-Owner Occupied loans for Purchase, Rate Term Refinance and Cash-Out Refinances are eligible for DSCR loans 
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TermsPurchase
Up to 80% Loan to Value/Loan to Purchase Price Rate and Term Refinance Up to 80% Loan to Value Cash Out Refinance Up to 75% Loan to Value 3 Months Seasoning for Full ARV Debt Service Coverage Ratio 1.0 - 1.2 Asset Types SFR, 2-4, Condos & Townhomes Interest Rates 5.85% + Origination Points 1 - 3 Other Requirements Credit Score: 660+ Prepayment Penalty: 5/4/3/2/1 or 3/2/1 Locations: Nationwide, typically needs to be in cities with populations of 7,500+ (lender will determine location eligibility) Rural Properties/Mobile Homes: No Short Term Rentals: Yes Minimum Loan Amount: $100,000 Maximum Loan Amount $3,000,000 Liquidity Requirements: Down payment, Closing Costs, & 6 -12 months of PITI payments in reserves No limit on number of properties owned Recourse & Non-Recourse Portfolio Loans Available |