Single Property Rental Loan Program
Loan Purpose
Flexible financing for purchasing, refinancing, or pulling equity from a single rental property.
Loan Structure
30-Year fixed-rate mortgage (fully amortizing)
Hybrid ARM options available: 5/6, 7/6, and 10/6 (interest-only or fully amortizing)
Recourse
Full personal guaranty required.
Borrower Requirements
Loans must be originated through an entity
Minimum credit score: 660
No prior experience needed
Property Eligibility
Single-family homes
2–4 unit residential properties
Warrantable condominiums
Townhomes and PUDs
Rural properties not eligible
Loan Terms & Limits
Loan Amount: $75,000 – $2,000,000
LTV: Up to 80% for purchases and rate-term refis; up to 75% for cash-outs
If owned <3 months: Maximum 80% of total cost basis
Minimum 1 property per loan
Lease & Rent Requirements
Leased units: Underwritten to the lower of actual or market rent
Unleased units (purchases only): Underwritten to 90% of market rent
Must be either leased or expected to be leased within 30 days of closing
Minimum DSCR (Debt Service Coverage Ratio)
1.10x (Gross Rent ÷ PITIA)
Foreign Nationals
Accepted unless from restricted countries
Rental Portfolio Loan Program
Loan Purpose
Blanket financing solution for purchasing, refinancing, or pulling equity from a portfolio of income-producing rental properties.
Loan Structure
30-Year fixed-rate mortgage (fully amortizing)
Hybrid ARM options: 5/6, 7/6, 10/6 (interest-only or fully amortizing options available)
Recourse
Full personal guaranty with a pledge of equity in the borrowing entity.
Borrower Requirements
Must borrow through a legal entity
Minimum FICO score: 680
Foreign nationals accepted (max 65% LTV)
Property seasoning of 180 days required to use market value vs. cost basis
Loan Terms & Limits
Minimum property value: $100,000
Maximum loan amount: $2,000,000
Max LTV: 80% for purchases and rate/term refinances; 75% for cash-out
Portfolio must maintain a minimum 90% occupancy rate by unit count
Lease & Rent Guidelines
Leased units: Underwritten to the lower of actual or market rent
Unleased units (for purchases): Underwritten at 90% of market rent
Minimum DSCR (Debt Service Coverage Ratio)
1.20x (Net Cash Flow ÷ Debt Service)
Eligible Property Types
Single-family residences (SFR)
2–4 unit properties
Warrantable condos
Townhomes
PUDs
All must be non-owner occupied
Rural and seasonal/vacation rentals are not eligible