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Rental Portfolios
Purchase or refinance multiple non-owner-occupied rental properties
Rental Portfolios TERMS
Property Types
Single Family / 2-4 Units / Townhomes / PUD / Warrantable Condos
5-8 Unit Properties allowed up to 15% of Loan Amount
Loan Amount
$150,000 - $50,000,000
Loan Types
30-Year term , Fixed Rate Mortgage (Fully Amortizing)
5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
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 (Subject To Minimum FICO)
Purchase/Rate-Term Refinance: 80%
Cashout Refinance: 75%
Term Length
5, 10, and & 30 Years
Lease Requirements
Minimum Occupancy Rate of 90% by Unit Count
- 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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