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 is committing to your future investments with our Long-Term Rental loan program. This program offers a 30-year term and rates starting at 5.00% to ensure that our customers have true long-term financing options.
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
Purchase: Lesser of up to 80% of the As-Is Value or Up to 85% Loan-to-Cost
Refinance: Up to 80% of the As Is Value
Cash-Out: Up to 75% of the As Is Value
“As Is” Appraised Value Must Be $70k or Greater (Geographical Restrictions May Apply)
$50k – $2M
As low as 5.00%
Debt Service Coverage Ratio (DSCR):
0.70 or Greater
Long-Term Rental Loan Program
|FICO||Maximum Loan-to-Value (LTV)||Maximum Loan-to-Cost (LTC)|
|680+||Up to 80% of the As-Is Value||Up to 85% Loan-to-Cost|
|660 – 679||Up to 75% of the As-Is Value||Up to 80% Loan-to-Cost|
|640 – 659||Up to 70% of the As-Is Value||Up to 75% Loan-to-Cost|
|620 – 639||Up to 65% of the As-Is Value||Up to 70% Loan-to-Cost|
|600 – 619||Up to 55% of the As-Is Value||Up to 60% Loan-to-Cost|
|575 - 599||Up to 50% of the As-Is Value||Up to 55% Loan-to-Cost|
|FICO||Maximum Loan-to-Value (LTV)|
|Cash-Out||680+||Up to 75% of the As-Is Value|
|660 – 679||Up to 70% of the As-Is Value|
|640 – 659||Up to 65% of the As-Is Value|
|620 – 639||Up to 60% of the As-Is Value|
|600 - 619||Up to 50% of the As-Is Value|
|575 - 599||Up to 40% 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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