Any residential property up to 4-units are allowed. This includes condos, townhouses, duplexes, etc.
*Non- warrantable condos are limited to 75% LTV . *Condo-Hotel loans are not permitted.
There are two options you can take with a DSCR loan. One is a standard loan with one property. You can also choose to do a blanket option that will encompass between 3 and 50 different properties with a maximum loan amount of $6,250,000.
With a history of income on your short-term rentals, we are able to look at taxes to figure out what your cash flow on a property is and use that as income. When purchasing a new nightly rental we can use the standard fair market rent for a 30-day term if no previous average is available.
Yes. DSCR Loans are business purpose loans that allow you to hold the title of your properties in an LLC. This also removes it from your personal credit report.
No. Interest rates for DSCR Loans can be very comparable to conventional rates.
Cash-out on investment properties is up to $500,000 per property using 75% of the LTV. Up to $2,000,000. Cash-out must be used for business purposes.
Properties can be located in any of the 50 united states.
Yes. This is simply called a partial release price.