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