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 6.85% 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) &
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 6.85%
Debt Service Coverage Ratio (DSCR):
1.10
Minimum FICO:
660
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 |
| 700 - 739 | Up to 80% of the As-Is Value | Up to 80% Loan-to-Cost | |
| 680 - 699 | Up to 75% of the As-Is Value | Up to 75% Loan-to-Cost | |
| 660 - 679 | Up to 60% of the As-Is Value | Up to 60% Loan-to-Cost | |
| FICO | Maximum Loan-to-Value (LTV) | |
|---|---|---|
| Refinance | 740+ | Up to 80% of the As-Is Value |
| 700 - 739 | Up to 80% of the As-Is Value | |
| 680 - 699 | Up to 75% of the As-Is Value |
| FICO | Maximum Loan-to-Value (LTV) | |
|---|---|---|
| Cash-Out | 740+ | Up to 75% of the As-Is Value |
| 700 - 739 | Up to 75% of the As-Is Value | |
| 680 - 699 | Up to 70% 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
Our Clients Do Some Amazing Work
Click on a Property to See Successful Projects RCN Capital Has Lended On.
Have A Look At This Property in North Little Rock, AR!
Borrower is a new client under contract to purchase the subject property for $126k to hold it for long term
Have You Seen This Property in Baltimore, MD?
Borrower looking to cash out refinance on subject property located in Baltimore, MD and hold it to long term loan.
Don’t Miss This Property in St. Petersburg, FL!
Borrower looking to cash out refinance on subject property located in St. Petersburg, FL and hold it to long term
