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:

PurchaseLesser 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