This is a great long-term option for a 30-year FIXED rate loan. Most banks will only amortize for 15 to 20 years and have a balloon, or a rate reset at year 3 or year 5. This loan program is not only great for rental properties, but it can be used for short term rentals like Airbnb and VRBO. Our 30-year rental loan works great with our BRRR Loan to help you build your real estate portfolio. This loan can be made to an individual or an LLC and can be used to refinance your whole portfolio.
Basic Loan Criteria
Term: 30 Year Fixed
Rates: Competitive with traditional banks
Debt Service Coverage Ratio: 1.2X minimum preferable, capable of 1.0X refinances
Appraisal Required: Yes
Minimum appraised value: $100,000
Minimum loan amount: $75,000
Rental Requirements: Best if property is already rented
Seasoning: Must have owned the property for a minimum of 3 months prior to refinancing
Perfect loan to use with the BRRR Strategy
Cash Out Option: Yes, up to 75% of the appraised value
Portfolio: Yes
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