Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/nbw1kvhbg84v/public_html/wp-includes/functions.php on line 6114
Portfolio Rental Loan | Boxwood Mortgage

Portfolio Rental Loan

For purchase or refinance a portfolio of properties or refinance and acquire properties under the same transaction

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)