Long-Term Rental Loans
Long term financing for the purchase and refinance of non-owner occupied rental properties.
Norada Real Estate Funding remains committed to your future investments with our Long-Term Rental loan program. This program offers a 30-year term and rates starting at 4.5% to ensure our clients have true long-term financing options.
LOAN CRITERIA
Collateral
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
Amortization Options
* 30 Year Fixed
* 5- and 10-Year Interest-Only
* Hybrid ARMS (5/1, 7/1, 10/1)
Loan Amount
$100,000 – $2,000,000
Rates
Starting at 4.50%
(Rates vary based on credit, points, LTV, DSCR)
Loan to Value (LTV)
Cash-Out: Up to 75% of the As-Is Value
Refinance: Up to 80% of the As-Is Value
Purchase: Up to 80% of the As-Is Value or Loan-to-Cost
Property Values
“As Is” Appraised Value must be $75,000 or greater.
(Geographical restrictions may apply)
Debt Service Coverage Ratio (DSCR)
1.10 Minimum
Minimum FICO
650
Please Note: Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.
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