Long-Term and Short-Term Rentals
Long-Term and Short-Term Rentals
- Collateral: Non-owner Occupied 1-4 Family Residential Properties; Condos; Townhomes; Portfolios, and short term rentals
- Term: 30 Years
- Amortization Options: 30-Year Fixed; Interest only, and ARMs
- Loan Amount: $55-$1.5M
- LTV for 1-4 unit properties:
- Purchase: Up to 80% of purchase price (700+ score)
- Refinance: Up to 80% of the As Is Value (700+ score)
- Cash-Out: Up to 75% of the As Is Value (700+ score)
- Rate: Starting at 6.0733% for 1-4 family properties
- Credit Score: 680 minimum
- Prepayment Penalty: 0-5 years, shorter prepay periods will have higher rates
- Minimum DSCR of 1.10, if credit less than 720, minimum DSCR of 1.20
