For Real Estate Investors
We offer portfolio loans for the real estate investor to purchase, refinance, or take cash out of individual rental properties as well as entire portfolios. This program is perfect for the professional investor looking to grow their portfolio of single-family rental properties, 1-2 family townhomes, or 3-4 family warrantable condos. It’s also an excellent way to convert a fix and flip into a long-term income-producing asset. It’s easy to get started; just fill out our loan inquiry and a loan officer will reach out to you with all the information you need to make a smart decision.
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PORTFOLIO LOAN DETAILS
- PURCHASE – REFINANCE (RATE & TERM) – CASH OUT OPTIONS
- RATES AS LOW AS 5.75%
- NO INCOME REQUIREMENTS
- FULLY AMORTIZING
- 30-YEAR FIXED TERM, 5/1 ARM & 10/1 ARM
- 80% FINANCING, UP TO 75% LTV
- MINIMUM PROPERTY VALUE $60K (WITH POSSIBLE EXCEPTIONS)
- 1-4 UNIT SFR, TOWNHOMES, CONDOS
- 660 MINIMUM FICO
- 3-MONTH SEASONING REQUIREMENTS
WE OFFER A NUMBER OF OPTIONS FOR PORTFOLIO LOANS WITH FLEXIBLE RATES AND TERMS BASED ON DOWN PAYMENTS AND EXPERIENCE.
PORTFOLIO LOAN FAQs
We have a few different options for portfolio loans. We will provide the specific requirements for any programs you qualify for.
What type of properties are eligible for portfolio loans?
- Single Family Residence (SFR)
- 1-4 Unit Properties
What is the minimum and maximum loan amounts for portfolio loans?
- 80% Financing, up to 75% LTV
What is the minimum FICO score for a portfolio loan?
- You must have a minimum FICO score of 660
What type of documentation is required for a portfolio loan?
- Bank Statement
- Business Entity Information
- Driver’s License
- A schedule of Real Estate Owned
*Other documents may be required.
What is Debt Service Coverage Ratio?
- This is a calculation to determine if the income collected through the monthly rental payments is sufficient to make the loan payments.
- The DSCR is calculated by dividing the monthly rent by the monthly principal, interest, property taxes, insurance and association dues, if any (PITIA).
Does my rental property have to be leased before closing?
- Not necessarily, it is possible to use the figures contained on the rent schedule, which is part of the appraisal.
Is there a prepayment penalty?
- Yes there are prepayment penalties depending on the type of loan you are taking.
Can I live in one of my rental properties or rent it to a family member?
- No, portfolio loans are commercial-only loans that are exclusively for non-owner occupied (investment) properties, which includes family members.
Is an appraisal required?
- Yes an appraisal is required on all portfolio loans.
Our portfolio loans are subject to business and investor credit approval, geographic, appraisal and other underwriting requirements.
Let us help fund your growth and create more profit. We have loans for every real estate investment. With flexible guidelines and clear underwriting, we can approve you quickly.
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