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30-Year Fixed-Rate Cash Out Refinance

Rental Loans starting at 5.49%*

5, 7, 10 Year ARMs starting at 4.99%*

 

Get Cash From Your Existing Rental Portfolio

Loans from $75K to $4M 

 

 

Advantages:

  • Up to 80% loan-to-value (LTV) Cash Out
  • No personal income verification – lending decision based on property cash flow*
  • No Seasoning
  • 680 min. FICO

RENTAL LOAN FAQs

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Prepayment penalty conditions are as follow:

  • Term: 3 Years
  • 3, 2, 1 step-down prepayment penalty
    (3% of loan balance in first year, 2% of loan balance in second year, 1% of loan balance in third year)

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No.  Inclusive Properties provides commercial only loans that are non-owner occupied (investment) properties.

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The following are the lease requirements:

  • A lease with no less than 3 months remaining at time of close
  • For Unleased properties we can use the market rent from the appraisal
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The seasoning requirements:

  • 3-month seasoning from your purchase date
  • Delayed Financing are permitted
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Debt Service Coverage Ratio (DSCR) is a calculation that helps us determine if a rental investment is generating enough income to make its loan payment obligations.

DSCR is calculated by the following simple formula:

DSCR = Monthly Gross Income
PITIA*

*Principal, Interest, Taxes, Insurance and Association Fees. 

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Our rental loans are available to the following borrowers:

  • U.S. Citizens
  • Permanent Resident Aliens
  • Non-permanent Resident Aliens
  • LLCs, Limited Partnerships, General Partnerships, Corporations
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Inclusive Properties requires the following documentation from borrowers interested in our rental loans:

  • Inclusive Properties’s online application, completed by borrower
  • 1-month bank statement
  • A list of properties you currently own (a REO Schedule)
  • No Tax Returns Required
  • Lease(s) – (if currently rented)
  • Sales Contract (on purchase)
  • LLC Operating Agreement or Articles of Corporations
  • Driver’s License

Other documents and/or materials may be requested based on the individual borrower’s circumstances and collateral.

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Inclusive Properties’s rental loan FICO score minimum is 640.  is required for all personal guarantors and determined as follows:

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Inclusive Properties provides lending in all States and District of Columbia except Alaska, Nevada, North Dakota, South Dakota, and Utah.

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Inclusive Properties rental loans have a minimum loan amount of $75K and a maximum loan amount up to $2M.

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The following property types are eligible for our rental loans:

  • Single Family Residence (SFR)
  • 2-4 Unit Properties
  • Warrantable condos must meet Fannie Mae warrantability requirements (LTV cannot exceed 70%)
  • Townhouse
  • 2 acres maximum
  • Non-warrantable condominiums not allowed
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Inclusive Properties offers both fixed a 30-year rate starting at 5.49% and hybrid adjustable rate mortgage, 5/1, 7/1, and 10/1 starting at 4.99%. All rates are based on individual property and borrower.  Call us to learn more.

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*  Our loans are subject to business and investor credit approval, geographic, appraisal and other underwriting requirements. 

Refinance Quote

 

In order to provide a quote please have the following information for the property:

 

  1. LLC Name
  2. Guarantor Name
  3. Estimated FICO
  4. Property Address
  5. Property Type
  6. Acquisition Date
  7. Acquisition Price $
  8. Mortgage Payoff Amount $
  9. AS IS Value $
  10. Taxes $
  11. Insurance $
  12. Leases $

 

 

Closing Checklist

 

  1. Valid Photo ID
  2. SS Card
  3. 2 Most Recent Bank Statements
  4. Entity Documents
  5. Articles of Organization
  6. Operating Agreement
  7. Certificate of Good Standing
  8. Title Company (Contact Name, Email, Phone)
  9.  Current Hazard Insurance Policy
  10. Original Purchase HUD/Closing Statement
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