Our Single Rental Loan enables investors to purchase their first property or add a new property to their portfolio. Investors use this loan to refinance a property for a better rate, or use equity to take cash out.*
Key Facts About our Single Loan Product
Commercial loan underwritten on property cash flow*
No personal income verification*
Lending directly to individuals or LLC’s
No limit to the number of properties you can finance**
Minimum Property Value
30-year fixed, full amortization
LLC or individual
Maximum Loan-to-Value (LTV)
80% LTV for Purchase
75% LTV for Refinance
Maximum Loan-to-Cost (LTC) Cost is purchase price amount.
Time Owned : Constraint
< 3 months : 80% LTC
3-6 months : 125% LTC
> 6 months : Full appraised value
When do we use LTV vs LTC?
Purchase: Use lesser of LTV or LTC calculation
Refinance: Use LTC until property has seasoned for 6 months, then use LTV
Cash Flow Requirement
Property Debt-to-Income Ratio of 70% (if LTV/LTC < 65%)
Property Debt-to-Income Ratio of 65% (if LTV/LTC ≥ 65%)
What Makes the Single Rental Loan Unique?
We treat your rental property like your own small business, and we underwrite to the cash flow it will produce, not your personal income.*
We don’t limit the number of rental properties you can own, so we give you maximum flexibility.*
We provide personalized service throughout the entire loan process – from quote to close.
*Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates may vary depending upon loan type, LTV, verification of application information and other risk based factors. Application fees, closing costs and other fees may apply.
**We have a limit of $2,000,000 in combined Single Property Loans to an individual guarantor. We have a limit of $5,000,000 in combined recourse loans to an individual guarantor. There is no limit for non-recourse loans.
Welcome to Finance of America Commercial LLC.
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