RENTAL PROPERTY MORTGAGE LOAN

Program Highlights:

• 30 Year Fixed or 5/7/10 Year ARM’s

• LTV up to 85% for Purchase & R/T Refi

• SFR’s, Condos, 2 to 8 Units

• Vacant-OK ( Use Market Rents)

• Loan Limits $200,000 to $3,500,000

• Fully Amortized or Interest Only

• No Limit Cash-out up to 75% LTV

• DSCR as Low as 0.75 (1.0 for 5+ Units)

• Minimum FICO 620 (680 for 5+ units)

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W2, Self Employed Borrower, or Fixed Income

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WHAT OUR CLIENTS SAY

NMLS ID: 2003033 Lic: 60DBO-116526

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MORTGAGE CALCULATOR

Rates are subject to change without notice. Minimum Loan amount: $200,000. LendingPlace is a subsidiary of LendingPlace, Inc. NMLS ID: 2003033 licensed as a broker in California by DFPI Lic: 60DBO-116526 and in Florida Lic: MBR4920. In addition, DSCR Loans are also available in AL, AR, CO, CT, DE, DC, GA, HI, IL, IN, KY, LA, ME, MD, MA, MS, MO, NE, NH, NC, OH, OK, PA, RI, SC, TN, TX, VA, WA, WV, WI, WY. All rights reserved by LendingPlace Inc.

PROGRAM DETAILS:

Single Family, Condos, 2 to 4 Units or 5 to 29 Units
LTV’s up to 85% / 80% for 5+ units
Unlimited cash-out up to 80% LTV / 75% for 5+ units
Minimum FICO 620 for 1 to 4 units / 625+ for 5+ units
30 Year Fixed or ARM options
Fully Amortized or Interest Only options
DSCR as low as 0.75 for 1 to 4 units / 1.0 for 5+ units
No 4506T, Tax Returns or any personal income verification
First Time Investors are allowed
Multipurpose LLC are allowed
As little as 3 months reserves
Vacant – OK, able to use market rents
Loan Amount Limits: $200,000 to $3,000,000 for 1-4 Units / $250,000 to $7,500,000 for 5+ Units
Rates starting at 5.75%

EXAMPLE SCENARIO:

Rates as of 04/12/22 and are subject to change. The following example is for a 30 year Fixed Purchase Loan for an Investment/Rental SFR with a minimum DSCR of 1.25+, at 60% LTV, for a borrower with a mid FICO score of 760, with a 5 -Year Prepayment penalty. Principal & Interest Payment (P&I) for a loan of $400,000 at 5.75% (APR 5.95%) is $2,334.29, and estimated loan costs are $8,800. P&I payment does not include taxes, home insurance premium, and HOA dues, which will result in a higher total monthly payment

Available in AL, AR, CA, CO, CT, DE, DC, FL, GA, HI, IL, IN, KY, LA, ME, MD, MA, MS, MO, NE, NH, NC, OH, OK, PA, RI, SC, TN, TX, VA, WA, WV, WI, WY

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