By capital / March 10, 2022

Looking to Purchase a Property to Hold for Rental Income?

RCN Capital’s Buy-to-Rent loan program offers a 24-month term, with a 12-month extension available, ensuring that our customers have rental property financing that goes the distance.

LOAN CRITERIA

 

Collateral:

Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes

Term:

24 Months (12 month extension available)
*(An extension fee applies)

Loan Amount:

$50k – $7.5M for 1-4 Family, Condos, & Townhomes

Rates:

Starting at 7.49%

LTV:

PurchaseThe lesser of Up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance: Up to 75% of the As Is Value
Cash-Out: Up to 70% of the As Is Value

Minimum As-Is Property Value:

$75k for 1-4 Family, Condos, & Townhomes

Minimum FICO:

620

Rent Coverage Ratio (Monthly Rent/Monthly Debt Service):

1.15

Buy-to-rent Loan Program Typical Rates

NEW INVESTOR

Owned 0 to 2 Investment Properties (Flips and/or Rentals) in the Last 3 Years

INTERMEDIATE INVESTOR

Owned 3 to 9 Investment Properties (Flips and/or Rentals) in the Last 3 Years

EXPERIENCED INVESTOR

Owned 10+ Investment Properties (Flips and/or Rentals) in the Last 3 Years

LTV

      

     Starting at 10.49%

 

 

      Starting at 8.35%

                            

 

        Starting at 7.49%