Buy-to-Rent Loans
Short-term financing for the purchase and refinance of non-owner occupied rental properties.
Looking to Purchase a Property to Hold for Rental Income?
RCN Capital’s Buy-to-Rent loan program offers a 24-month term, with a 12-month extension available, ensuring that our customers have rental property financing that goes the distance.
Loan Criteria
Collateral:
Non-Owner Occupied 1-4 Family & Multi-Family Real Estate; Condos; Townhomes: 5+ Unit Apartments; Mixed-Use Properties
LTV:
Purchase: The lesser of Up to 75% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance: Up to 70% of the As Is Value
Cash-Out: Up to 65% of the As Is Value
Term:
24 Months (12 month extension available)
*(An extension fee applies)
Minimum As-Is Property Value:
$75k for Single-Family
$50k per unit for Multi-Family (5+)/Mixed-Use
Loan Amount:
$50k – $2M for 1-4 Family, Condos, & Townhomes
$250k – $5M for Multi-Family (5+)/Mixed-Use
Minimum FICO:
650
Rates:
As low as 8.75%
Rent Coverage Ratio (Monthly Rent/Monthly Debt Service):
1.15
Buy-To-Rent Loan Program Typical Leverage & Rates
Moderate Credit
650-679 FICO
Good Credit
680-699 FICO
Excellent Credit
700+ FICO
PURCHASE
Lesser of Up to 65% of the As-Is Value or 70% of the Loan-to-Cost
Lesser of Up to 70% of the As-Is Value or 75% of the Loan-to-Cost
Lesser of Up to 75% of the As-Is Value or 80% of the Loan-to-Cost
REFINANCE
Up to 60% of the As-Is Value
Up to 65% of the As-Is Value
Up to 70% of the As-Is Value
CASH-OUT
Up to 55% of the As-Is Value
Up to 60% of the As-Is Value
Up to 65% of the As-Is Value
Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.
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