Residential Build-to-Rent Loans

N/A

Appraisals with Rent Assessment

Minimum 6 month history

640

Verifiable track record of Ground Up construction projects

Full recourse with personal guaranty

SFR / 2-4 Family / Condo/ Townhome / PUD

Lease Requirements

Appraisal

Property Management Experience

Minimum Guarantor FICO

(mid-score)

Borrower Experience

Guaranty

Minimum Debt Service Coverage

Ratio (DSCR)

Maximum PDTI (property Debt-to-        Income Ratio

Maximum Loan to As-is Value (LTV)

Maximum Loan to Cost (LTC)

Prepayment Penalty

Rate Types

Amortization Period

IO Period

Loan Term

Permitted Property Types

Minimum-Maximum Loan Amount

Loan Purpose

TYPICAL TERMS

Ground-up Construction of 1-4 Family Rental Properties

Permitted Property Types

SFR / 2-4 Family / Condo/ Townhome / PUD

Loan Term

12-18 Months

IO Period

12-18 months

Amortization Period

Rate Types

Prepayment Penalty

None

Maximum Loan to Cost (LTC)

50% land (no permits) + 100%

Construction 65% land (with permits) +

100% Construction 75% LTC Limit

80%

Maximum Loan to As-is Value (LTV)

Minimum Debt Service Coverage

Ratio (DSCR)

Maximum PDTI (property Debt-to-        Income Ratio

N/A

Guaranty

Full recourse with personal guaranty

Borrower Experience

Verifiable track record of Ground Up construction projects

Minimum Guarantor FICO

(mid-score)

640

Property Management Experience

Refinance of Renovated Property with

Tenant/Signed Lease

Minimum-Maximum Loan Amount

Single Property: $35K - $1MM

   Portfolios: $500,000- $35MM

$50,000+

N/A

Fixed

1.25x

80%

Minimum 6 month history

Bridge Loan

Permanent Financing

30 Years

0-10 Years

20-30 Years

30-yr Fixed 5/7/10-yr Hybrid ARMS

Hard PPP: 3 Years (3-2-1%) No-prepay options also available

Only LTV limits apply

  Loans >=$100K: 70% 

Loans between $75-100K: 65%

Loans <$75K: 60%

Appraisal

Appraisals with Rent Assessment

Lease Requirements

N/A

Signed lease with proof of deposit

Loan Purpose

ADDRESS

645 Madison Avenue

New York, NY 10022

TELEPHONE

(888) 311-1204

EMAIL