By capital / March 10, 2022
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 3.75% 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)
Amortization Options:
30-Year Fixed,
Hybrid ARMS (5/1, 7/1, 10/1), &
5 & 10 Year Interest-Only
Loan Amount:
$50k – $2M
Rates
Starting at 3.75%
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
Property Values:
“As Is” Appraised Value Must Be $75k or Greater (Geographical Restrictions May Apply)
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)
700+
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 80% Loan-to-Cost
Purchase
660 – 679
Up to 70% of the As-Is Value
Up to 70% Loan-to-Cost
640 – 659
Up to 65% of the As-Is Value
Up to 65% Loan-to-Cost
620 – 639
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 65% Loan-to-Cost
Fico
Maximum
Loan-to-Value (LTV)
700+
Up to 80% of the As-Is Value
680 – 699
Up to 75% of the As-Is Value
Refinance
660 – 679
Up to 70% of the As-Is Value
640 – 659
Up to 65% of the As-Is Value
620 – 639
Up to 65% of the As-Is Value
Foreign Nationals
Up to 70% of the As-Is Value
Fico
Maximum
Loan-to-Value (LTV)
700+
Up to 80% of the As-Is Value
680 – 699
Up to 75% of the As-Is Value
Refinance
660 – 679
Up to 70% of the As-Is Value
640 – 659
Up to 65% of the As-Is Value
620 – 639
Up to 65% of the As-Is Value
Foreign Nationals
Up to 70% of the As-Is Value