DSCR/Rental
Rental 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).
Standard Loan Terms
- Max loan amount: $3,000,000
- Max LTV (Loan to Value): 80%
- Rates starting at 5.5%
- Payments: Principal & Interest or Interest Only options
- Term of loan: 5/6 ARM, 7/6 ARM, 15 Year Fixed, 30 Year Fixed
Standard Closing Costs
- Origination Fee: As low as 0% – typically 1-2% based on loan amount, LTV and borrower tier.
- Underwriting Fee: $1,500
- Legal: $750 – $1,500
- Appraisal Fee: $500-$950
- Title Insurance and recording fees: 1%(Approximate)
Property Types
- Single family
- 2-4 units
- Multifamily 5-10 units
- Mixed Use 2-8 units
Standard Requirements:
- Credit Application (RBI Private Lending Application)
- Last 2 bank statements (US bank account)
- Copy of ID and Borrowing Entity docs
- Purchase Contract (If Purchase)
- Property Insurance
- Lease Agreement (if applicable)
- Short term rentals allowed
Standard Closing Time
- Typically 20-30 days from term sheet to funding
RBI Private Lending is a direct lender and does not rely on other institutions to close the loans. Once the title work and appraisal are ready, We will be too!
Qualifications
- Minimum DSCR (Gross Rent / PITIA): 0.75
- Minimum Credit Score: 640
- Lease in place: Not Required
- Foreign Nationals Qualified with reduced LTV (65%)
Contact us
FAQ
Do you offer personal loans?
We do not offer personal loans. Our loan programs are for real estate investors.
What kind of real estate loans do you offer?
RBI Private Lending finances real estate investments. Both the purchase of properties for rent or a second residence, as well as renovations for subsequent resale. We also finance real estate development.
What are the interest rate and loan term?
Usually, our rates are 9.99%. Loan terms are 12 to 36 months. There are some closing costs such as a 1.75% origination fee.
What is the amortization type?
Most of our loans are interest only, which means a fixed interest is paid throughout the term and the full balance at maturity. For example, a $100,000 with 12 monthly terms and 9% rate will yield 12 monthly payments of $750 and a final payment of $100,000.
What happens if I sell the property or prepay the loan before maturity?
In most of our loans, there is no prepayment penalty, so you can pay the same amount of the loan before the term ends.
