Long-Term Rental Loans
Long-Term Rental Loans, also known as landlord loans or investment property loans, are financial products designed to assist individuals or businesses in acquiring properties for rental purposes. These loans are specifically tailored for real estate investors who aim to generate income by renting out their properties to tenants. Rental loans can be used to finance the purchase of various rental properties, including residential homes, apartments, or commercial buildings. The terms and conditions of rental loans may vary depending on the lending institution, but they often provide funds for property acquisition, renovation, or refinancing existing rental properties. These loans typically have a repayment period ranging from several years to a few decades, allowing borrowers to spread out the loan payments over time while leveraging the rental income to cover the loan costs. Rental loans enable individuals and businesses to expand their real estate portfolios, diversify their investments, and potentially generate long-term cash flow.
Looking to Acquire a Property for Long-Term Rental Purposes?
Crown Lending Solutions remains committed to your future investments with our Long-Term Rental loan program. This program offers a 30-year term to ensure that our customers have true long-term financing options.
LOAN CRITERIA
Collateral:
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
LTV:
Purchase: Lesser of up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance: Up to 80% of the As-Is Value
Cash-Out: Up to 75% of the As-Is Value
Amortization Options:
30-Year Fixed, Hybrid ARMS (5/1, 7/1, 10/1) &
Interest-Only Options Available
Property Values:
“As Is” Appraised Value Must Be $100k or Greater (Geographical Restrictions May Apply)
Loan Amount:
$55k – $2M
Debt Service Coverage Ratio (DSCR):
1.10
Minimum FICO:
680
LONG-TERM RENTAL LOAN PROGRAM
Purchase
FICO |
Maximum Loan-to-Value (LTV) |
Maximum Loan-to-Cost (LTC) |
|---|---|---|
|
740+
|
Up to 80% of the As-Is Value
|
Up to 80% Loan-to-Cost
|
|
720 - 739 |
Up to 75% of the As-Is Value
|
Up to 75% Loan-to-Cost
|
|
680 - 719
|
Up to 70% of the As-Is Value
|
Up to 70% Loan-to-Cost |
|
660 - 679 |
Up to 60% of the As-Is Value
|
Up to 60% Loan-to-Cost
|
Refinance
FICO |
Maximum Loan-to-Value (LTV) |
|---|---|
|
740+
|
Up to 80% of the As-Is Value
|
|
720 - 739 |
Up to 75% of the As-Is Value
|
|
680 - 719
|
Up to 70% of the As-Is Value
|
Cash-Out
FICO |
Maximum Loan-to-Value (LTV) |
|---|---|
|
740+
|
Up to 75% of the As-Is Value
|
|
720 - 739 |
Up to 70% of the As-Is Value
|
|
680 - 719
|
Up to 65% of the As-Is Value
|
