LONG-TERM RENTAL LOANS
30-Year FixedLong term financing for the purchase and refinance of non-owner-occupied rental properties.
Are You Looking to Acquire a property to Hold for as a Rental Asset?
Fast Private Lending LLC is dedicated to Client’s future investments by providing our borrowers a versatile and competitive Long-Term Rental loan program. Our Long term Rental program offers the investors a 30-year term and rates starting at 3.75% to make certain that our clients have Viable long-term financing alternatives.
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
PURCHASE
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 |
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 65% Loan-to-Cost |
Foreign Nationals | Up to 70% of the As-Is Value |
Up to 70% Loan-to-Cost |
REFINANCE
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 |
660 – 679 | Up to 65% of the As-Is Value |
640 – 659 | Up to 60% of the As-Is Value |
620 – 639 |
Up to 60% of the As-Is Value |
Foreign Nationals |
Up to 65% of the As-Is Value |
CASH-OUT
FICO | Maximum Loan-to-Value (LTV) |
700+ | Up to 75% of the As-Is Value |
680 – 699 | Up to 70% of the As-Is Value |
660 – 679 | Up to 60% of the As-Is Value |
640 – 659 | Up to 55% of the As-Is Value |
620 – 639 |
Up to 55% of the As-Is Value |
Foreign Nationals |
Up to 60% of the As-Is Value |
Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.
Three Simple Steps to Get Financing
Apply
Complete our loan Application and Allow us to Conduct the Initial Due Diligence to Underwrite Your Commercial Deal
Term Sheet
Review & execute our term sheet which Includes all the loan terms & costs associated with it.
Closing
Our attorney will draft the loan documents and once signed the funds will be wired directly to your bank.
Get in Touch
716.444.4667
info@FastPrivateLending.com
Open Hours
8am – 8pm Everyday
Our Office
Clearwater, FL
Buffalo, NY