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Residential Investment

Multi Unit Residential Investment Program with Fixed or Adjustable rates

  • 5-12 unit residential investment properties (available for 1-4 units if closed in LLC, restrictions apply)
  • Properties containing non-residential use are eligible as long as it represents less than 25% of the square footage & rental income (restrictions apply)
  • Available for Purchase, Refinance, Rehab and Cash Out (restrictions apply for cash out)
  • Minimum 3 years real estate investment experience or utilization of a third party professional property management company
  • All units must be Non Owner Occupied
  • Loan must close in an LLC with a personal guarantee
  • Maximum Loan Size is $2,500,000 based on product parameters

Income Qualification based on Debt Service Coverage Ratio (DSCR) of 1.35 or greater. Minimum 80% occupancy for trailing 12 months. Maximum LTV is 75% based on product parameters. Property Condition Assessment (PCA) required on all loans over $1,000,000 or properties over 20 years old. 50% or LLC Members must have FICO credit score over 680, no mortgage lates in last 12 months and no 90 day mortgage lates in last 3 years. Minimum credit history is 3 years and at least 5 solid trade lines. Net worth of Guarantor(s) must be equal to or greater than the loan amount (65% of retirement accounts is considered). Must have minimum 9 months P&I as liquidity.

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