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 5.875% 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) &
Interest-Only Options Available
Property Values:
“As Is” Appraised Value Must Be $100k or Greater (Geographical Restrictions May Apply)
Loan Amount:
$55k – $2M
Rates
Starting at 5.875%
Debt Service Coverage Ratio (DSCR):
1.10
Minimum FICO:
680
Long-Term Rental Loan Program
| FICO | Maximum Loan-to-Value (LTV) | Maximum Loan-to-Cost (LTC) | |
|---|---|---|---|
| Purchase | 740+ | Up to 80% of the As-Is Value | Up to 80% Loan-to-Cost |
| 720 - 739 | Up to 75% of the As-Is Value | Up to 75% Loan-to-Cost | |
| 680 - 719 | Up to 70% of the As-Is Value | Up to 70% Loan-to-Cost | |
| FICO | Maximum Loan-to-Value (LTV) | |
|---|---|---|
| Refinance | 740+ | Up to 80% of the As-Is Value |
| 720 - 739 | Up to 75% of the As-Is Value | |
| 680 - 719 | Up to 70% of the As-Is Value |
| FICO | Maximum Loan-to-Value (LTV) | |
|---|---|---|
| Cash-Out | 740+ | Up to 75% of the As-Is Value |
| 720 - 739 | Up to 70% of the As-Is Value | |
| 680 - 719 | 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.
Recent Loans
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