Rental Loan, Blanket Loan or Portfolio Loan Program

Rental or Blanket Loan

Rental Loan Programs

Real Estate Investors who want to buy and hold property need long term financing. We offer no income verification rental loan programs for investors who own one property to portfolios of hundreds of property. The mortgage can be on a single property with a minimum loan amount of $75,000 or a blanket loan of several million dollars.

Rental Loan Program – Single Loan

Here are general guidelines for the rental loan program for a single loan:

  • Loan Size: $75,000 up to $1,500,000
  • Loan to Value: Purchase up to 80%
  • Loan to Value: Refinance up to 75%
  • Minimum Credit Score: 620 for up to 60%
  • Minimum Credit Score: 660 for up to 75%
  • Minimum Credit Score: 700 for up to 80%
  • Cash Reserves: 3 to 6 months of PITI
  • Cash Flow Requirement: Property Value > $150k 85% / <$150K 70%
  • Current Rates: 6% to 9.9%  depend on Credit, LTV and Cash Flow

 

Blanket Loan Program

Here are general guidelines for blanket loan program.

  • Loan Size: Minimum $250,000
  • Minimum # of Properties: 2
  • Minimum # of Units: 2
  • Loan to Value: up to 75%
  • Minimum Credit Score: 660
  • Cash Reserves: 3 to 6 months of PITI
  • Cash Flow Requirement: Minimum 1.30 Debt Coverage Ratio
  • Current Rates: 7% to 9.9%

 

Portfolio Loan Program

A portfolio loan is a blanket loan. Where our blanket loan starts at 2 properties and $250,000 minimum loan amount, our portfolio program is for larger groups of properties (portfolio’s) and larger loan amounts. Here are the general portfolio guidelines.

  • Loan Size: Minimum Loan is $500,000 Maximum Loan is $100,000,000
  • Minimum Number of Properties: 5
  • Minimum Number of Units: 5
  • Loan to Value:  Up to 75%
  • Minimum Credit Score: 660 (exceptions for lower LTV and stronger cash flow)
  • Cash Flow Requirement: Debt Coverage Ratio as low as 1.15% Generally, 1.25% or better
  • Cash Reserves: 6 months on loans less than $2,000,000 12 months on loans over $2,000,000
  • Recourse: Full Recourse on all loans under $2,500,000
  • Non Recourse: Optional on loans over $2,500,000
  • Current Rates: 5.5% to 7.5% depending on LTV, Credit, Cash Flow, and Loan Size
  • Interest Only Option Available

 

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