Portfolio Rental Loan

Loan Parameters:

Standard:

• Purpose:
  • Purchase or refinance a portfolio of properties.
  • Refinance and acquire properties under the same transaction
• Individual Loan Size
  • $500K – $10MM
• Property or Unit Min/Max
  • 5+ properties/units
• Term & Amortization
  • 5-, 7-, or 10-year with balloon due at end of term
• Max Loan-to-Value (LTV)
  • Up to 75% on purchase, limited cash-out refi, and cash-out refi
• Debt Service Coverage Ratio Minimum (DSCR)
  • 15x (75% of gross rent for DSCR)
• Borrower Type
  • Entity (Special Purpose Entity) Must be a Newly Formed LLC only
• Non-Owner Occupied Property
  • Single Family Residence, 2-4 units, Condos, Townhomes, PUD, Multi-family (5-20 units)
• Seasoning Requirement (to use Value vs. Cost Basis)
  • 180 days
• Pre-Pay Penalty
  • Yield Maintenance OR Declining Points, stepping down per year as follows:
  • 5yr loans: 5%, 4%, 3%, 2%, 1%
  • 7yr loans: 5%, 4%, 3%, 2%, 1%, 1%, 1%
  • 10yr loans: 5%, 4%, 3%, 2%, 1%, 1%, 1%, 1%, 1%, 1%
• Minimum Credit Score Requirement
  • 660 FICO (all Guarantors)

Loan Parameters:

Express:

• Purpose:
  • Purchase or refinance a portfolio of properties.
  • Refinance and acquire properties under the same transaction
• Individual Loan Size
  • $200K – $5MM
• Property or Unit Min/Max
  • 2 to 20 properties/units
• Term & Amortization
  • 30-year fixed
• Max Loan-to-Value (LTV)
  • Up to 80% on purchase / limited cash-out refi, and 75% on cash-out refi
• Debt Service Coverage Ratio Minimum (DSCR)
  • No DSCR floor < 1.00x Property LTV max of 65%
• Borrower Type
  • Entity (Single Purpose Entity, existing or newly formed)
• Non-Owner Occupied Property
  • SFR, 2-4 units2, Condos, Townhomes, PUD, Multi-family (5-8 units)
• Seasoning Requirement (to use Value vs. Cost Basis)
  • 180 days
• Pre-Pay Penalty
  • Declining Points, stepping down per year as follows:
  • 3%, 2%, 1%
  • OR
  • 5%, 4%, 3%, 2%, 1%

• Minimum Credit Score Requirement
  • 660 FICO (all Guarantors)