30-Year Fixed-Rate Cash Out Refinance
Rental Loans starting at 5.49%*
5, 7, and 10 Year ARMs starting at 4.99%*
Loans from $75K to $2 million
- Up to 80% loan-to-value (LTV)
- No personal income verification – lending decision based on property cash flow*
- No Seasoning
- 640 min. FICO
RENTAL LOAN FAQs
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)
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
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
*Principal, Interest, Taxes, Insurance and Association Fees.
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
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.
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%)
- 2 acres maximum
- Non-warrantable condominiums not allowed
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.
Please review our FAQs to get more details about our lending parameters.
* Our loans are subject to business and investor credit approval, geographic, appraisal and other underwriting requirements.