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After Repair Value Loan Criteria.
Collateral: Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes: 5+ Unit Apartments; Mixed-Use Properties
- Loan Amount:
- $50k – $2M (above $3M check with Us) for 1-4 Family, Condos, & Townhomes
- $250k – $3M for multi-Family (5+)/Mixed-Use
- Term: 12 months (6-Month Extension Available)
- LTV:
- Purchase (assumes experienced, but first timers welcome):
- Light Rehab: Up to 85% of Purchase Price + 100% of Renovation Costs; Not to Exceed 70% of the ARV, loan capped at 90% total loan to cost (purchase + rehab)
- Moderate Rehab: Up to 85% of Purchase Price + 100% of Renovation Costs; Not to Exceed 70% of the ARV, loan capped at 90% total loan to cost (purchase + rehab)
- Heavy Rehab: Up to 75% of Purchase Price + 100% of Renovation Costs; Not to Exceed 60% of the ARV
- Refinance: Up to 75% As-Is + 100% of Renovation Costs; Not to Exceed 60% of the ARV
- Exceed 60% of the ARV
- Cash-Out: Up to 70% As-Is + 100% of Renovation Costs; Not to Exceed 55% of the ARV
- Rates: Starting at 10.49%
- Credit Score: 620 minimum, Scores below 660 will require 6 months reserves.
Long-Term Rental for Multi-Family Properties
- Collateral: 5–9-unit buildings
- Term: 30 years
- Amortization Options: Hybrid ARM 5/1, 7/1, or 10/1; 30-Year Fixed; 5-, 7-, or 10-year Interest-Only
- Loan Amount: $250,000-$2M
- LTV:
- Purchase: Up to 67.5% of purchase price (720+ score with experience)
- Refinance: Up to 67.5% of the As Is Value (720+ score with experience)
- Cash-Out: Up to 65% of the As Is Value (720+ score with experience)
- Rate: As low as 7.25 %
- Credit score: 680 Minimum
- Prepayment Penalty: 3-5 years, shorter prepay periods will have higher rates
- Minimum DSCR: 1.20
Our lending criteria, as well as out optionality, make us the ideal financing product for savvy Real Estate Investors like yourself. Our goal is to beat any legitimate rate and term. We are looking to do multiple Real Estate Deals with you, so our goal is to beat any legitimate rate and term. To get started fill out our quick application form!!
Long-Term Rental Loan Criteria
Collateral:
Non-owner Occupied 1-4 Family Residential Properties; Condos; Townhomes;
Portfolios, and short-term rentals
- Term: 30 Years
- Amortization Options: 30-Year Fixed; Interest only, and ARMs
- Loan Amount: $65K-$1.5M
- LTV for 1–4-unit properties:
- Purchase: Up to 75% of purchase price (720+ score)
- Refinance: Up to 75% of the As Is Value (720+ score)
- Cash-Out: Up to 70% of the As Is Value (720+ score)
- Purchase: Up to 80% of purchase price (740+ score)
- Refinance: Up to 80% of the As Is Value (740+ score)
- Cash-Out: Up to 75% of the As Is Value (740+ score)
- Rate: Starting at 6.49% for 1-4 family properties
- Credit Score: 680 minimum
- Prepayment Penalty: 0-5 years, shorter prepay periods will have higher rates.
- Minimum DSCR of 1.10, if credit less than 720, minimum DSCR of 1.20
Apply for a Quick Quote!!
* This is not a commitment to lend. All offers of credit are subject to approval. Restrictions may apply. Smart Real Estate Solution reserves the right to amend rates and guidelines. The above statements are not and shall not, under any circumstances, be construed as a commitment on the part of Smart Real Estate Solution to provide any financing. SMART REAL ESTATE SOLUTION SHALL BE UNDER NO OBLIGATION TO FUND ANY LOAN TO ANY BORROWER UNLESS AND UNTIL IT IS SATISFIED, IN ITS SOLE AND ABSOLUTE DISCRETION, WITH ITS DUE DILIGENCE REVIEW AND FORMAL LOAN DOCUMENTS PREPARED BY ITS COUNSEL.