Single Rental Loans Purchase or refinance a single rental property with our DSCR Single Rental Loan
RATES STARTING AT 5.89%*
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 |
| 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 |
What Makes the Single Rental Loan Unique?
- 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
We have the product to meet your needs.
Important Note: If you are a broker, please call your AJ Capital Funding Group Account Executive to initiate access to your new and enhanced portal. If you don’t know who your Account Executive is, please call (800) 674-0757
Real Estate Commercial Lender Single Family Homes, Townhomes, Duplex, Triplex, and Condos Purchase Financing, Cash Out Refinance, Short and Long Terms Available Nationwide. Residential New Construction, Fix and Flip, Bridge and 30 Year Fixed, ARM financing options available for Single and Multiple Rental Portfolios.
“FOREIGN NATIONALS WELCOME”
(By Appointments Only)
Office: (800) 674-0757
Email: info@ajcapitalfunding.con
Address: 7345 W. Sand Lake Rd. STE # 214
Orlando, FL 32819
All Rights Reserved. Equal housing lender