Term

30-Year term, Fixed Rate Mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)

Lease Requirements

Minimum Occupancy Rate of 90% by Unit Count

Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent

Unleased Units: 90% of Market Rent (Purchase Loans only)

Recourse

Full Recourse with Pledge of Equity of Borrowing Entity

Loan Purpose

Blanket loan for purchase, rate-term refinance, or cash-out of a portfolio of rental properties

Minimum Fico

680

Borrower Type

Entity required

Interest Rate

Call for quote

Property Type

Non-Owner Occupied:

Single Family Residences (SFR)

2-4 unit properties

Warrantable condos

Townhomes

PUD

Minimum debt service coverage ratio (net cash flow/debt service)

1.20x

Vacancy Minimum

Min. 90% occupancy rate by unit count

Rural Properties

Not permitted

Foreign Nationals

Eligible at maximum 65% LTV

Loan Amount

Minimum Property Value: $100K

Maximum Loan Amount: $2MM

Property Restrictions

No vacation or seasonal rentals

Maximum Loan-To-Value (Ltv)

Up to 80% on purchase and refi. Up to 75% on cash-out

Seasoning Requirement (To Use Value Vs. Cost Basis)

180 days