5+ UNIT MULTI-FAMILY 30-YEAR FRM
Buy to rent with fixed-rate mortgage
Looking to Purchase a Property TO USE AS A Rental Property?
The multi-family loan program offers a 30-year term and rates starting at 6.5%
LOAN CRITERIA
Collateral
Non-owner occupied 5+ unit apartments
LTV
Up to 80% LTC on Purchase
Refinance: up to 75% of the as-is value
Cash-out: up to 70% of the as-is value
Amortization Options
30-year fixed,
5 & 10 year interest-only
Property Values
“As Is” appraised value must be $250k or greater (geographical restrictions may apply)
Loan Amount
$250k – $5M
Debt Service Coverage Ratio (DSCR)
1.10
Rates
Starting at 7.5%
Minimum FICO
680
LONG-TERM RENTAL LOAN PROGRAM
Purchase:
| FICO | Maximum Loan-to-Value (LTV) | Maximum Loan-to-Cost (LTC) |
|---|---|---|
| 700+ | Up to 80% of the As-Is value | Up to 80% Loan-to-Cost |
| 680 - 699 | Up to 75% of the As-Is value | Up to 80% Loan-to-Cost |
| Foreign Nationals | Up to 70% of the As-Is value | Up to 70% Loan-to-Cost |
Refinance:
| FICO | Maximum Loan-to-Value (LTV) |
|---|---|
| 700+ | Up to 80% of the As-Is value |
| 680 - 699 | Up to 75% of the As-Is value |
| Foreign Nationals | Up to 65% of the As-Is value |
Cash-Out:
| FICO | Maximum Loan-to-Value (LTV) |
|---|---|
| 700+ | Up to 75% of the As-Is value |
| 680 - 699 | Up to 70% of the As-Is value |
| Foreign Nationals | Up to 65% of the As-Is value |
Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.