Long-term Rental / DSCR Loans
Long-term investor financing for rental purchases, refinances, or cash-outs
Green Block’s Rental / DSCR Loans are perfect for investors who are looking to acquire turn-key rentals or refinance or cash-out equity of properties in their current portfolio. While conventional banks rely on the investor’s personal debt-to-income, our loans use the property’s Debt Service Coverage Ratio (DSCR), which is a measure of the property’s cash flow compared to its debt. This means we have less paperwork and faster closings than traditional conventional banks and mortgage providers. We help you acquire more rentals and build wealth more quickly.
High LTVs
Fast Funding
Non-QM Loans
Rental / DSCR Loan Details
1 – 4 Units |
5+ Units & Mixed Use |
|
|---|---|---|
| Loan Types | Purchase, Refinance, or Cash-out. Portfolio loans available. | Purchase, Refinance, or Cash-out |
| Loan to Value (LTV)* | Purchase: The Lesser of Up to 80% of the As-Is Value or Up to 80% Loan-to-Cost | Purchase: The Lesser of Up to 67.5% of the As-Is Value or Up to 65% Loan-to-Cost |
| Loan to Value (LTV)* | Refinance: Up to 80% of the As-Is Value | Refinance: Up to 67.5% of the As-Is Value |
| Loan to Value (LTV)* | Cash-out: Up to 75% of the as-is value | Cash-out: Up to 65% of the As-Is Value |
| Term | 30 years | 30 years |
| Prepayment Penalty | 0 – 5 year step-down options available | Step-down options available |
| Amortization | Fully amortized fixed rate. Interest-Only Options available. | Fully amortized fixed rate. Optional 5, 7, or 10-year Interest-Only available. |
| DSCR Minimum | 1.10 | 1.2 (may vary based on market) |
| Rates | Starting at 6.49% | Starting at 7.25% |
| Property Types | Non-owner occupied 1-4 units, condos, townhomes. | Multi-Family Apartment Buildings (5 – 9 Units). |
| Property Condition | Rent-ready | Rent-ready |
| Portfolio Loans Available | 3 or more properties required | N/A |
| Minimum Experience | None | None |
| Minimum FICO | 680 | 680 |
| Loan Amount | $65,000 – $2 million | $250,000 – $3 million |
| Minimum Property Value | $100,000 | $50,000 per door |
| Borrower Type | US-based business entities. Foreign National guarantors permitted. | US-based business entities. Foreign National guarantors permitted. |
* Max LTV based on factors such FICO, experience, property type
Rental / DSCR Loan Application Process
Our loan process is simple – designed to help you close quickly and seamlessly. We know that time is money and our team’s goal is to help you move fast.
