Long-Term Rental Loans

Long term financing for the purchase and refinance of non-owner occupied rental properties.

RCNC_Website_Banner_30_Year_Image

Looking to Purchase a Property to Hold for as a Rental Property?

RCN Capital remains committed to your future investments with our Long-Term Rental loan program. This program offers a 30-year term and rates starting at 3.85% to ensure that our customers have true long-term financing options.

Loan Criteria

Collateral:

Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)

LTV:

Purchase: Lesser of up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance: Up to 80% of the As-Is Value
Cash-Out: Up to 75% of the As-Is Value

Amortization Options:

30-Year Fixed, 
Hybrid ARMS (5/1, 7/1, 10/1), &
5 & 10 Year Interest-Only

Property Values:

“As Is” Appraised Value Must Be $100k or Greater (Geographical Restrictions May Apply)

Loan Amount:

$50k – $2M

Rates

Starting at 3.85%

Debt Service Coverage Ratio (DSCR):

1.10

Minimum FICO:

620

Long-Term Rental Loan Program

FICO Maximum Loan-to-Value (LTV) Maximum Loan-to-Cost (LTC)
Purchase 720+ Up to 80% of the As-Is Value Up to 80% Loan-to-Cost
700 - 719 Up to 75% of the As-Is Value Up to 80% Loan-to-Cost
680 - 699 Up to 75% of the As-Is Value Up to 80% Loan-to-Cost
660 - 679 Up to 70% of the As-Is Value Up to 70% Loan-to-Cost
650 - 659 Up to 65% of the As-Is Value Up to 70% Loan-to-Cost
Foreign Nationals Up to 70% of the As-Is Value Up to 70% Loan-to-Cost
FICO Maximum Loan-to-Value (LTV)
Refinance 720+ Up to 80% of the As-Is Value
700 - 719 Up to 75% of the As-Is Value
680 - 699 Up to 75% of the As-Is Value
660 - 679 Up to 65% of the As-Is Value
650 - 659 Up to 60% of the As-Is Value
Foreign Nationals Up to 65% of the As-Is Value
FICO Maximum Loan-to-Value (LTV)
Cash-Out