Bridge the Gap Between Short Term and Permanent Financing
The Rental 2+1 program is perfect for investors who are looking to bridge the gap between short term and permanent financing. The Rental 2+1 is a 2-year interest only-balloon, with a 1-year extension available with interest rates as low as 7.25% for the purchase or refinance of single rental properties or entire portfolios. The interest rate is determined by credit, loan-to-value, and the rent coverage ratio which is calculated by dividing gross rent by the monthly interest payment. Another key advantage of the 2+1 is there is no borrower debt-to-income on the loan.
Below you will find more information on our Rental 2+1 program as well as a map of our lending area.
Rental2+1 Loan Overview
Term Length: 2 years with 1 year extension option
Property Types: Single-family detached residences, 2-4 unit residences, condominiums, and townhomes
Single Property: Yes
Minimum Loan Amount: $50,000
Maximum Loan Amount: $2,500,000
Maximum LTV: 75%
Minimum Credit Score: 660
Debt-to-Income for Borrower: None
Minimum Number of Properties: 1
Rental Coverage Ratio ≧1.25*
|LTV Credit||≦ 50||50.01-55||55.01-60||60.01-65||65.01-70||70.01-75|
Stated rates available as of May 22nd, 2019.
*Rent coverage is calculated by dividing gross rents by monthly interest only payments.
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Lending Across The Nation
Click on one of the states below to see complete rates and terms.