DSCR Rental Property Loans:
Rental Property Loans:
Landlords need a private source of capital for their rental loans that
- Purchase up to 80% Loan to Value.
Cash-outRefinances up to 75% of As-Is Value.
- Low minimum debt service coverage of 1.00.
- Rates starting in 7s.
- 5 Year ARM, 10 Year ARM, or 30 Year Fixed Rates available!
- Origination Fees fixed at 2%.
- Quick closings in 7 to 21 days.
- Collateral Type: Single Family Homes, 2-4 Units, Townhomes, and Condos.
- 5 year Prepayment Penalty - 5% - 4% - 3% - 2% - 1%
- Minimum Request: $100,000
- Maximum Loan Request: $3,000,000 (Higher Case by Case.)
- Brokers Protected and Compensated.
The Following Documentation is Requested For Application:
- Lease Agreement(s) - If available.
- Current Payoff Good For 30 Days ( If Refinance )
- Executive Summary
- Use of Borrowed Funds LOE
- Purchase Agreement ( If Purchase )
- Subject Properties can be vacant!
- Real Estate Property Taxes - Proof of Current
- Current Insurance Policy for refinances.
- For Purchases a Preliminary Insurance Policy to Bind at Close of Escrow
- Preliminary Title
- Escrow Agent & Title Agent Contact Information
- Insurance Agent Contact Information
- Borrower Credit Report
- 3 Months Personal and Business Asset Statements
- Fully Executed Personal Financial Statement and REO Schedule
- HUD-1 or Settlement Statement for refinances.
- Capital Improvements List since purchase for refinances.