Funding For Rental Property Owners and Investors

Purchasing or refinancing single family rental properties to hold for business purposes.

Single family, townhouses, 2-4 units.

Terms: 5-30 years, interest-only and fully amortized options available

Amounts: $50K to $1M

Up to 80% LTV

DSCR 1.2

Liquidity Requirements: 3 Month Interest Reserve Account

FICO 660 minimum median for all members owning 19.9% or more

Eligible Citizen (US citizens, Permanent Resident Aliens, Canadian Citizens with Experian FICO)

Credit: Minimum 3 Credit Bureau FICO Average: 660

All members with 19.9% ownership or more must fully qualify

Minimum 24 months of credit history

No bankruptcies in past 4 years

No foreclosures, short sales, or deed in lieu in past 3 years

2 months of bank statements, including average balances, are required

Eligible Property Types:

•Must be non-owner occupied

•Single Family Residential

•2-4 Family

•Warrantable Condominiums

Views: 22

Reply to This

© 2024   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service