| Loan Amount | $250,000 – $10 Million |
|---|---|
| Minimum Property Value | $75,000 (Average value required $115,000) |
| Loan Term | 30 years |
| Purchase | Up to 80% LTV |
| Refinance | Up to 80% of the As-Is Value |
| Cash-Out | Up to 75% of the As-Is Value |
| Property Type | Long term rental and Vacation Rental Properties |
| Time to Close | 10 to 30 Days |
| Asset Classes | Non-owner Occupied 1-4 Family Residential Properties; Condos; Townhomes; Planned Unit Developments (PUDs), 5-9 unit commercial Apartments |
| Lien Position | First mortgage |
| Interest Rate | Varies depending on the market |
| Origination Fees | 0.00% – 3.00% (adjusted to loan size, timing, and complexity) |
| Minimum Credit Score | 660 |
| Amortization | Fully Amortized |
| Programs | 30yr Fixed, 5/1, 7/1, 10/1 ARM or Interest Only Options |
| Prepayment Penalty | Zero to 5yr Year declining or flat options |
A borrower seeking a long term DSCR loan must meet the following generally stated minimum requirements.
| Borrower Type | Corporations, Trust or Limited Liability Companies preferred |
|---|---|
| Borrower Liquidity | 9 Months of PITIA Reserves |
| Net Worth | Sufficient to support the loan and project scope |
| Foreign Nationals | Eligible with qualifying documentation |
| Credit Score | 660 or higher preferred |
Personal Documents
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Loan Application
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Track Record
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Most Recent Bank Statement
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Drivers License and/or Passport
Property Documents
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Purchase Contract
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Payoff Statement (if applicable)
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Rent Roll & Leases
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Taxes Statement & Evidence of Insurance
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Data tape of property Information
Business Documents
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Articles of Incorporation
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Operating Agreement (LLC) or Bylaws (Corp.)
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EIN Letter
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Certificate of Good Standing
We make it easy—download all the forms you need to start your loan application, hassle-free.