Rental loans · 30-year fixed

Long-term loans on rental property, qualified on the rent.

Thirty-year financing from $100,000 to $3,000,000 on one-to-ten-unit residential property. No tax returns, no employment verification, no limit on the number of properties financed.

Request terms →Run the coverage test

Program terms

Thirty years, one test, no tax returns.

The loan qualifies on the property's gross rent against its full monthly payment. Your personal income never enters the file.

Item	1 – 4 units	5 – 10 units
Loan amount	$100,000 – $3,000,000	$250,000 – $3,000,000
Term and amortization	30-year fixed, fully amortizing · 30-year with 10-year interest-only period · 40-year with 10-year interest-only
Indicative rate	From 7.25%	From 7.50%
Origination	1 – 2 points	1 – 2 points
Max LTV · purchase and rate-term	80%	75%
Max LTV · cash-out	75%	70%
Minimum coverage	1.00x standard · 0.75x with reduced leverage	1.15x
Minimum credit score	660	680
Cash-out limit	$1,000,000 at or below 65% LTV · $500,000 above 65% LTV · $2,500,000 maximum cash-out loan
Reserves	3 months of payments on loans to $1,500,000 · 6 months above · cash-out proceeds may count
Prepayment	Step-down options from 5-4-3-2-1 to none, priced to the rate
Borrower	LLC, LP, corporation or individual · guaranty from owners totaling 51% · foreign nationals to 65% LTV
Rent used	The lower of lease rent and market rent from the appraisal · vacant units at market less 10% · short-term rentals at 1.00x on trailing twelve-month income

Rates are indicative for a 740+ score at 75% LTV and 1.20x coverage with a five-year prepayment step-down, and are set on the term sheet. Loans are fully disbursed at closing with no draw management. Loans above $2,000,000 require two appraisals.

Leverage

Maximum loan-to-value by loan size and credit score.

Purchase and rate-and-term refinance first, cash-out second. Coverage of 1.00x or better.

Loan amount	740+	720 – 739	700 – 719	680 – 699	660 – 679
1 – 4 units · coverage 1.00x and above · purchase / cash-out
Up to $1,500,000	80 / 75	80 / 75	80 / 75	80 / 75	75 / 70
$1,500,001 – $2,000,000	75 / 65	75 / 65	75 / 65	70 / 65	65 / 60
$2,000,001 – $3,000,000	75 / 65	75 / 65	75 / 65	70 / 65	—
1 – 4 units · coverage 0.75x to 0.99x · purchase / cash-out
Up to $1,000,000	75 / 70	75 / 70	75 / 65	70 / 60	60 / 60
$1,000,001 – $1,500,000	70 / 65	70 / 65	70 / 65	—	—
$1,500,001 – $2,000,000	65 / 60	65 / —	65 / —	—	—
5 – 10 units · coverage 1.15x and above · purchase / cash-out · to $3,000,000
All loan sizes	75 / 70	75 / 70	75 / 70	70 / 65	—

Interest-only loans are capped at 75% LTV on a 30-year term and 70% on a 40-year term. First-time investors are reduced 5 points. Foreign nationals: 65% purchase, 60% cash-out.

The coverage test

Gross rent divided by the full monthly payment.

The payment includes principal and interest, property taxes, insurance and any association dues. On an interest-only loan, the interest-only payment is used. Operating expenses are not deducted.

Rent	Lease rent, or market rent if lower
Payment	Principal & Interest + taxes + insurance + HOA
1 – 4 units	1.00x for full leverage · 0.75x at reduced leverage
5 – 10 units	1.15x
Short-term rental	1.00x on trailing twelve months

Worked example

Two-family purchase, Bergen County

Purchase price	$1,250,000
Gross rent	$7,400 / month
Taxes + insurance	$1,050 / month
Loan at 80% LTV	$1,000,000
Principal & Interest at 7.25%, 30 years	$6,822 / month
PITIA	$7,872 / month
Coverage	0.94x → sub-1.00x matrix
Loan at 75% LTV (sub-1.00x)	$937,500 · PITIA $7,446 · 0.99x
Interest-only option	$937,500 · PITIA $6,715 · 1.10x

Interest-only brings the coverage over 1.00x at 75% LTV. The sizer below runs this for your numbers.

Eligible property

Single family, 2–4 family, townhouse
Warrantable condo
Multifamily 5–10 units, strictly residential (no mixed-use, industrial or retail)
Planned unit development
Leased, or vacant at market rent less 10%
Minimum value $100,000 (1–4) · $50,000 per unit (5–10)

Eligible borrower

LLC, LP, corporation, trust or individual
Guaranty from owners totaling 51%
Credit 660+ (1–4 units) · 680+ (5–10 units)
12 months of multifamily ownership for 5–10 units
Foreign nationals with U.S. bank account
No limit on financed properties

Not eligible

Owner-occupied property
Mixed-use with commercial space
Rent-controlled or rent-stabilized units below market (ask)
Properties above 10 units or 10 acres
Condotels, co-ops, manufactured housing
Properties needing more than 3% of value in repairs

Deal sizer

Run the coverage test and the leverage matrix.

Finds the largest loan that clears both the LTV matrix and the coverage floor, and tells you which one sets it. Indicative only.

Inputs

Monthly figures for rent, taxes, insurance and dues.

Purpose

Units

Value (price or appraised)

Gross monthly rent

Monthly taxes

Monthly insurance + HOA

Credit score

Rate (annual)

Payment type

Requested loan (optional)

Result

Maximum loan at the lower of the matrix and the coverage floor.

Maximum loan—

Loan-to-value—

Matrix maximum LTV—

Monthly Principal & Interest—

PITIA—

Coverage—

Coverage floor applied—

Reserves required—

—

Want these numbers in writing? Leave your email and the deal lands on our desk sized, with a loan officer's reply within one business day.

Documents

A short list, because the rent does the qualifying.

No tax returns, no W-2s, no pay stubs, no debt-to-income.

For the term sheet

Address and purchase contract or estimated value
Rent roll or leases (or expected rent if vacant)
Tax and insurance figures
Credit authorization for each guarantor
Entity name and ownership

To close

Appraisal with rent schedule: LB1 will order the appraisal
Leases and proof of the last two months of rent received
Two months of bank statements for closing cash and reserves
Entity documents and good standing
Title commitment, insurance naming LB1 as mortgagee
Twelve months of payment history on a refinance