Our Single Rental Loan enables investors to purchase a new property to expand their rental portfolio. Investors use this Debt Service Coverage Ratio (DSCR) loan to refinance a property for a better rate, or take cash out to access equity.
Key Facts About Our Single Rental Loan
- DSCR loan with no W2s, paystubs, or tax returns required
- Minimum 660 FICO
- Single Family Rental (SFR), warrantable condos, townhomes, PUD, 2-4 units eligible
- Foreign Nationals allowed
| TERM | 30-year fixed, arm options available |
|---|---|
|
RECOURSE
|
Full Recourse Only
|
|
LOAN TYPES
|
30-Year Fixed Rate Mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hyrbid ARMs (Partial IO or Fully Amortizing) |
|
EXPERIENCE |
not required |
|
LOAN PURPOSE |
Purchase, rate-term refinance, or cash-out of a single rental property |
|
MINIMUM FICO
|
660
|
|
BORROWER TYPE |
Entity required
|
|
INTEREST RATE
|
call for quote |
|
PROPERTY TYPES
|
Single Family Residences (SFR) 2-4 unit properties Warrantable condos Townhomes PUD |
|
VACANCY MAXIMUM |
purchases only or leased within 30 days
|
|
RURAL PROPERTIES
|
not permitted
|
|
FOREIGN NATIONALS
|
not allowed from ineligible country list
|
|
LEASE REQUIREMENTS
|
Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent Unleased Units: 90% of Market Rent (Purchase Loans only) |
|
MAXIMUM LOAN TO COST
|
If Owned < 3 months, 80% of Total Cost Basis
|
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MINIMUM LOAN AMOUNT
|
$75k - $2.5mm
|
|
MAXIMUM LOAN-TO-VALUE (LTV) |
up to 80% on purchase and rate & term. Up to 75% on cash-out
|
|
PROPERTY OR UNIT ACQUISITION MINIMUM
|
1 property per loan
|
|
MINIMUM DEBT SERVICE COVERAGE RATIO (GROSS RENT/PITIA)
|
1.10x
|
|
SEASONING REQUIREMENT (TO USE VALUE VS. COST BASIS)
|
180 days
|
OVER $8 BILLION IN LOANS FOR REAL ESTATE INVESTORS
Why Choose EZ Financial Group Single Rental Loan?
- We treat your rental property like your own small business, and we underwrite to the cash flow it will produce, not your personal income.
- We don’t limit the number of rental properties you can own, so we give you maximum flexibility.
- We provide personalized service throughout the entire loan process – from quote to close.
GET STARTED
Complete the form below and a member of our experienced sales team will reach out to you directly to discuss your goals and answer any questions you may have.
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