The smart, easy way to build a rental property and then to hold it as a rental. One loan closing. Great terms. Great rates. Consistent service - we fund and hold our loans on balance sheet. (Want a loan for an existing rental property? Explore existing rental property loans).

SIZE
Loan Size
$100,000 - $750,000, call for larger loans
Loan-to-Cost 75% subject to qualifications
STRUCTURE

Term 

5 Years + 2 Year Extension OR

10 Years + 2 Year Extension

Build Phase

1 year for construction
Recourse Full
Payment

Year 1: Interest only with interest reserve

Years 2 and later: 30 year amortization or interest only available on 5 year

COSTS
Origination Fee 2%
Interest Rate 

5.75% fixed for 5 Years +2 Years floating
OR
5.99% fixed for 10 Years +2 Years floating

Rates assume 700+ credit (660 minimum)

Rate during an extension is floating at the greater of Prime +1% and the original fixed rate

Other Third-party costs, $500 closing fee