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Single Property Rentals
Purchase or refinance non-owner-occupied rental properties with 1–4 units
Single Property Rentals TERMS
Property Types
Single Family / 2-4 Unit / Townhomes / PUD / Warrantable Condos
Loan Amount
$75,000 - $2,000,000
Loan Types
30-Year term, Fixed Rate Mortgage (Fully Amortizing)
5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
Term Length
30 Years
Maximum Loan To Cost
If Owned less than 3 months: 80% of Total Cost Basis.
If Owned between 3 and 6 months: Additional 5% haircut on Max Eligible LTV
Maximum Loan To As-Is Value
Purchase/Rate-Term Refinance: 80%
Cashout Refinance: 75%
Lease Requirements
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
Un-leased Units: 90% of Market Rent (Purchase Loans only)
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