Residential Rentals

We can help with residential rental loans. This means we assist with non-owner occupied 1-4 units used for long term rentals or vacation rentals (see below)

Single Property Rentals

Property Types
Single Family/2-4 Units/Townhomes/PUD/ Warrantable Condos/Eligible mixed Use
Loan Amounts
$75,000 – $2,000,000
Loan Types
30-Yr Fixed Rate Mortgage (Fully Amortizing) 5/1, 7/1 and 10/1 Hybrid ARMs (Partial IO or Fully Amortizing) 
Term Length
30 Years
Maximum Loan To Cost
If Owned <3 months, 80% of Total Cost Basis
If Owned between 3 and 6 months, additional 5% haircut on Max Eligible LTV
Maximum Loan To As-Is Value (Subject To Qualifying FICO)
Purchase/Rate Term Refinance: 80% Cash Out Refinance: 75% 
Minimum Debt Service Coverage Ratio
1.20x (Net Operating Income/Debt Service)
Minimum Guarantor FICO
680 
Recourse
Full Recourse
Lease/Rent Requirements
Leased Units: Lower Of In-Place Rent and Market Rent. Unleased Units: 90% Of Market Rent (Purchase Loans Only) 

Multifamily Term (Small Balance)

Property Types
Residential (5+ Units)
Loan Amounts
$500,000+
Loan Types
Interest Only | Fixed/Adjustable Rate Mortgage Options
Term Length
Up To 24 Months + Two 6-Month Extensions
Maximum Loan To Cost
Purchase Loans: 80% Of Purchase/As-Is Value + 100% Of Rehab Costs
Refinance Loans: 75% Of As-Is Value + 100% Of Rehab Costs
Maximum Loan To As-Is Value (Subject To Qualifying FICO)
75%
Minimum Guarantor FICO
680
Recourse
-Loans<=$2MM: Full Recourse
Loans > $2MM: Full Recourse Or
Limited Recourse With Bad-Boy Carveouts
Completion Guaranty/Reserve Replenishment Guaranty When Applicable

Rental Portfolios

Property Types
Single Family/2-4 Units/Townhomes/PUD/ Warrantable Condos, 5-20 Unit Properties allowed up to 15% of Loan Amount
Loan Amounts
$150,000 – $ 50,000,000 
Loan Types
5, 10 & 30 -Yr Fixed Rate Mortgage 5/1, 7/1 and 10/1 Hybrid ARMs (Partial IO or Fully Amortizing) 
Term Length
5, 10 & 30 Years 
Maximum Loan To Cost
If Owned <3 months, 80% of Total Cost Basis
If owned between 3 and 6 months, additional 5% haircut on Max eligible lTV
Maximum Loan To As-Is Value (Subject To Qualifying FICO)
Purchase/Rate Term Refinance:  80%
Cash Out Refinance:  75%
Minimum Debt Service Coverage Ratio
1.20x (Net Cash Flow/Debt Service)
Minimum Guarantor FICO
680
Recourse
Non-Recourse With Bad Boy Carveouts & Pledge Of Equity
Lease/Rent Requirements
Minimum Occupancy Rate Of 90% By Unit Count

Vacation & Short Term Rental Properties

Full 30-year term (no balloons), No tax return requirements. Simple, loan solutions. Also protect your identity and other assets by borrowing in a corporate entity. Similar qualifications as Single Property Rentals program.