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Rental Portfolios
Residential and Mixed-Use (1-8 Units)
Property Type:
- Single Family
- 2-8 Units
- Townhomes
- PUD
- Warrantable Condos
- Mixed Use (50%+ Residential)
Loan Amount:
$75,000 - $20,000,000+
Loan Types:
30-Yr Fixed Rate Mortgage (Fully Amortizing)
5/1, 7/1, 10/1 Hybrid ARMs - (Partial IO or Fully Amortizing)
Maximum Loan to Cost:
If Owned >180 Days, No LTC Limit
If Owned < 90 Days, 80% Of Purchase Price If Owned Between 91 And 180 Days, Additional 5% Haircut On Max Allowable LTV
Maximum Loan To As-Is Value (Subject To FICO):
- Purchase/Rate Term Refinance: 75%
- Cash Out Refinance: 70%
Minimum Debt Service Coverage Ratio:
1.20x (Net Cash Flow/Debt Service)
Term Length:
30 Years
Non-Recourse With Bad Boy Carve-outs and Pledge Of Equity
Minimum Guarantor FICO:
640
Lease/Rent Requirements:
Minimum Occupancy Rate Of 90% by Unit Count