What is a Rental Loan?
Rental Loan are a financing option for investors looking for a long-term solution, at an attractive rate. Underwriting is heavily weighted on the DSCR (Debt-Service Coverage Ratio) and not the individuals DTI (Debt to Income).
Rental Loan TERMS
Max Loan Amount:
$1,000,000
Max LTV (Loan to Value):
80%
Rate:
Starting at 8.5% vs 6.875%
Term of loan:
30 Year and ARM (5/1 and 7/1)
Payments:
Monthly Principal and Interest payments.
Foreign nationals:
0.25+ base
Closing costs
- Origination Fee: 2%
Underwriting Fee: $1,500 - Legal: $750 – $1,500
- Appraisal Fee: $500-$950
- Title Insurance and recording fees: 1%(Approximate)
property types
- Condominiums.
- Single-family residences.
- Townhouses.
- Two to four units.
- From 2 to 4 units case by case, only with board approval.
standard requirements
- Credit Application (1003)
- Last 2 bank statements (US bank account)
- Copy of ID and Borrowing Entity docs (Can close under personal name or
company) - Purchase Contract (If Purchase)
- Property Insurance
- Lease Agreement (if applicable)
- Short term rentals allowed
Closing time
qualifications
- Latest three months bank statements
ID, passport (US visa for F nationals) - Entity documents (LLC or Corp), EIN & OP agreement
6 months of liquidity/reserves - Non-owner occupancy certification
- SSN for credit report and background check
- Evidence of insurance (full replacement + 500K liability)+ 6 months rental loss
- Minimum Fico score of 680
- Signed loan application
Why choose Ubridge?
Fast Closing
Approval within 24-48 hours, average closing within 7-12 days. Including borrowers with no credit history.
Dedicated service
Personalized guidance and continuous follow-up that transforms your dreams into reality.
Competitive rates
We offer the most competitive rates, ensuring that your financing aligns with your financial goals.
No Prepayment Penalty
There are no penalties for paying off or partially amortizing the debt at any time.
