Long-term Rental Financing – asset-based lending
It provides the investor with the ability to bundle up to $5m into a single loan. The individual properties within the Portfolio Loan must meet the same criteria as single properties in the 30 Year Rental Financing.
Maximum loan size: $5,000,000
Release price: partial releases are allowed at a release price equal to 120% of the allocated loan amount
DSCR: calculated at the portfolio level, not at the property level
Property type: 1 – 4 unit, N/O/O residential property, including condos and short-term rentals.
Minimum Loan Amount per property: $50,000 and up
Locations: Non-rural locations in 48 states
Borrower: Entity or individual. Entities, e.g. LLC’s, require a personal guarantee
Borrower/guarantor: Minimum 620 credit (lower on a case-by-case basis)
Seasoning: None required. Must become a rental within 3 months of loan closing.
Loan to Value: Up to 80%, 75% if a cash-out
Term: 30 years, fixed-rate; 3 and 5-year interest only available also
Prepayment penalty: Up to 5 years; declines by year
Valuation: Appraisal required, to include rental analysis
With Investment Capital Partners you get:
- A lending partner to help you drive your business forward with creative solutions for borrower lending needs
- People who are easy to work with, and focus on YOUR results
- A lender who cares about the health of your business and is willing to say “no” if the numbers say no
- An experienced, local real estate investor who understands your language
- A knowledgable lender, with an ear to the market pulse and available loan products
- Quick and timely communication and response – because the market moves quickly and so do you
Are you ready for a real lending partner in your real estate investing business?
We are ready to help.
You may also download the loan application and submit via email with the required documents.