Capital designed for rental portfolio growth.

Rental Portfolio Terms

Interest Rate Options
Loans may be structured with fixed or adjustable interest rates and offer both fully amortizing and partial interest-only payment options.

Lease & Rent Requirements
A minimum portfolio occupancy of 90% by unit count is required.
– Leased units are underwritten at the lesser of current in-place rent or market rent.
– Vacant units are underwritten at 90% of market rent.

Recourse Structure
All loans are originated with full recourse, including an equity pledge of the borrowing entity.

Eligible Loan Uses
Blanket financing available for portfolio purchases, rate-and-term refinances, and cash-out refinances across multiple properties.

Credit Requirements
Minimum borrower FICO score of 680.

Borrower Type
Loans must be originated in an approved entity structure.

Eligible Property Types
Non-owner-occupied residential properties including:
– Single-family residences
– Two-to-four-unit properties
– Warrantable condominiums
– Townhomes
– Planned Unit Developments (PUDs)

Debt Service Coverage Ratio (DSCR)
Minimum portfolio DSCR of 1.05x, calculated using net cash flow relative to total debt service.

Occupancy Requirements
Portfolios must maintain a minimum 90% occupancy by unit count.

Rural Properties
Rural locations are not eligible.

Foreign National Eligibility
Foreign national borrowers may be eligible with maximum leverage up to 65% loan-to-value.

Loan Amount
Minimum individual property value of $72,000.
Maximum total loan amount of $2,000,000.

Ineligible Property Types
Vacation rental and seasonal rental properties are not permitted.

Loan-to-Value (LTV)
Up to 80% LTV for purchases and rate-and-term refinances.
Cash-out refinances capped at 75% LTV.

Seasoning Requirement
A minimum ownership period of 90 days is required to utilize appraised value instead of cost basis.