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Blanket Loan for 3 or more rental doors
Lending Matrix for Blanket loans of 3 or more rental doors on residential rental property.
| Geography | Nationwide Financing (Except North Dakota, South Dakota, Alaska & Hawaii) | |||||||||
| Loan Purpose | Purchase or Refinance, Cash out | |||||||||
| Loan Amount Range | $300k-$50MM | |||||||||
| Terms | 5 or 10 year fixed rate balloon with up to a 30 year amortization | |||||||||
| MAX LTV | Up to 75% on stabilized lease ready properties (SFR, TH, 2-4 family, Condos) & Multi units (max 20 units) | |||||||||
| Credit Grid | No Bk’s last 2 years and No Foreclosures | |||||||||
| Recourse Options |
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| Non Recourse | 620 Minimum credit score for US Citizens LTV for Non-recourse will be based on overall credit/loan profile Foreign Nationals treated as Non-recourse, OK up to 75% |
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| Minimum DSCR | 1.15% ** Interest only available at 70% LTV and below, 670 score needed | |||||||||
| Minimum Property Value | $50k for 75% LTV, $40k- $49.9k limited to 50% LTV Multi Family $30k per unit | |||||||||
| Prepayment Penalties |
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| Seasoning | After 90 days of ownership we will lend off appraised value <90 days ownership we will lend off cost basis (purchase price + rehab) |
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| Occupancy |
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| Fees | Third party Appraisal Fees collected upfront at deposit to submit RHF charges 1-2% origination and $2500 underwriting fee at close Customary title charges at close No application fees |
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| General UW Tips | Loan is assumable with lender approval, with a fee equal to the >$10k or 1% of the loan amount Monthly payment includes, Taxes, Insurance and Capex Capex- $450 SFR- $350 2-4 Per Unit- $250 for multi units and condos (per year) No income verification- qualifies on the cash flow of the portfolio |
Rental Home Financing Investment Loans
Published in
Blanket Loans
Tagged under
Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240
About Rental Home Financing:
Rental Home Financing, as the best mortgage lenders we originate rental home loan products and cash out refinance investment property loans as the best investment property refinance lenders. Commercial blanket loans are available with a commercial purpose to suit your needs.
Also, as DSCR loan specialists, we are currently authorized to make such loans in most all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). When you are ready to get a mortgage for rental property, we are ready to serve you.