Single Rental Loans
Purchase or refinance a single rental property with our DSCR Single Rental Loan
RATES STARTING AT 5.39%*
Our Single Rental Loan enables investors to purchase a new property to expand their rental portfolio. Investors use this Debt Service Coverage Ratio (DSCR) loan to refinance a property for a better rate, or take cash out to access equity.
Key Facts About Our Single Rental Loan
DSCR loan with no W2s, paystubs, or tax returns required
Minimum 660 FICO
Single Family Rental (SFR), warrantable condos, townhomes, PUD, 2-4 units eligible
Foreign Nationals allowed
Term
30 years
Recourse
Full Recourse only
Rate Types
30-year fixed rate mortgage (fully amortizing or Partial IO) 5/6, 7/6, 10/6 hybrid ARMs (partial IO or fully amortizing)
Experience
Not required
Loan Purpose
Purchase, rate-term refinance, or cash-out of a single rental property
Minimum FICO
660
Borrower Type
Entity required
Interest Rate
Call for quote
Property Types
Single family residences (SFR)
2-4 unit properties
Warrantable condos
Townhomes
PUD
Vacancy Maximum
Purchases can be vacant & 1 unit of a 2-4 unit refinance
Rural Properties
Not permitted
Foreign Nationals
65% ltv max
Lease Requirements
Leased Units: Lower of (i) in-place rent & (ii) market rent Unleased Units: 90% of market rent
Maximum Loan-To-Cost
If owned < 3 months, 80% of total cost basis
Minimum Loan Amount
$75k – $2MM
Maximum Loan-To-Value (LTV)
Up to 80% on purchase and rate & term. Up to 75% on cash-out
Property Acquisition Minimum
1 property per loan, up to 4 units total
Minimum Debt Service Coverage Ratio (Gross Rent/PITIA)
1.05x
Seasoning Requirement (To use value vs. cost basis)
90 days
Loan Types
30-Year fixed rate mortgage (fully amortizing or Partial IO) 5/6, 7/6, 10/6 hybrid ARMs (partial IO or fully amortizing)
Over $8 Billion in loans for Real Estate Investors
What Makes the Single Rental Loan Unique?
- We treat your rental property like your own small business, and we underwrite to the cash flow it will produce, not your personal income.
- We don’t limit the number of rental properties you can own, so we give you maximum flexibility.
- We provide personalized service throughout the entire loan process – from quote to close.
We have the product to meet your needs.
*Rates advertised are the lowest offered. Actual rates and offers may vary based on approval criteria, including but not limited to borrower FICO score, previous experience, period of ownership, etc.