SHORT AND LONG-TERM RENTAL

Long and Short Term Rentals

• Loan Amount: $75,000 to $3,000,000
• Minimum As-Is Appraised Value: $100,000
• Collateral:
  • Non-owner occupied 1-4 family residential properties Warrantable condos
  • Townhomes
  • Planned Unit Developments (PUDs) rented on long-term lease
  • Vacation rental properties (Airbnb or seasonal rentals)
• Loan Term: 30 years, fully amortized
• Loan to Value (LTV):
  • Purchase: Up to 80% LTV
  • Refinance: Up to 75% of the as-is value
  • Cash-Out: Up to 75% of the as-is value
• Interest Rate: Starting at 7.49%
• Credit Score: Minimum 660
• Programs Available: 30-year fixed, 3/1, 5/1, 7/1, 10/1 ARM, and interest-only options
• Prepayment Penalty: 1 to 5-year declining options (1%, 2%, 3%, 4%, 5%)
• Borrower Liquidity: 9 months of PITI reserves