Short Term Rental Property Program Criteria
To get a Rental Property loan started you will need:
- A 620+ minimum score
- $50,000 – $5,000,000+ non-owner occupied property
- 2 months of recent bank statements
- No Liens, Judgements or Foreclosures on record
Terms
- Max 80% LTV depending on individual project and costs
- Single or multiple rental properties
- Fixed or Adjustable options on 30 year terms
- Income calculated on the property, not the borrower
WHAT YOU NEED TO KNOW
Who Are Rental Property Loans Suited For?
Advant Lending’s rental loans are suitable for smart, seasoned investors looking to generate recurring monthly revenue through rental properties. Taking advantage of the best rental properties in your area requires fast access to funding, not only to purchase the property but to make the required repairs and capital improvements that allow you the greatest return on your investment.
Property Types We Fund
We lend on single-family rental properties, 2 to 4 units, townhomes, planned unit developments, or condominiums. All properties must be non-owner occupied. Foreign nationals are subject to a lower loan to cost (LTC) and loan to value (LTV) thresholds.
How do Rental Property Loans Work?
We require a minimum score of 620+ and a $150,000 loan amount. All of our loans are serviced and underwritten in-house, for a 7-10 business days funding time. Once you have filled out an application and been pre-qualified for your loan you will need to provide specific documentation.