RENTAL LOANS

30 Year Fixed. Competitive Rates. Fast Closings. 5/1 and 7/1 Year ARMs are also available.

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RENTALONE: 30-YEAR FIXED-RATE RENTAL LOANS AND 5 AND 7 YEAR ARMS

Our RentalOne loan product provides our customers a reliable source of financing through a simple and efficient online loan process. Our 30-year fixed-rate rental loan product was designed to help savvy investors capitalize on the rapidly growing rental market. With attractive rates and up to 75% loan-to-value (LTV) on fixed-rate loans, these loans are a great way to get cash out from your existing rental properties. RentalOne loans begin at $75K and up to $2 million with no personal income verification. *

GET CASH FROM YOUR EXISTING RENTAL PORTFOLIO

RentalOne asset-based loans can provide the cash you need to grow your rental portfolio. Benefits include:

  • Get cash from rental properties – loans from $75K to $2 million.
  • Lower your blended rate – consolidate higher-rate loans into single mortgage
  • No personal income verification – EZ Short Sales decision based on property cash flow*
  • No hurdles – flexible loan options designed for your buy and hold strategy

    • ADVANTAGES OF RENTALONE LOANS:

  • Cash out refinances
  • Based on Property Lease – No personal income verification – no W-2 required
  • Minimum seasoning requirements*
  • No hurdles- a very user-friendly and streamlined process
  • Prepayment penalty

    • RENTAL LOAN FAQS

    IS THERE A PREPAYMENT PENALTY?

    Prepayment penalty conditions are as follow:

  • Term: 3 Years
  • 3, 2, 1 step-down prepayment penalty (3% of loan balance in first year, 2% of loan balance in second year, 1% of loan balance in third year)

    • CAN I LIVE IN ONE OF MY RENTAL PROPERTIES OR RENT IT TO A FAMILY MEMBER?

    No. EZ Short Sales provides commercial only loans that are non-owner occupied (investment) properties.

    DOES MY RENTAL PROPERTY HAVE TO BE LEASED BEFORE CLOSING?

    The following are the lease requirements:

  • A lease with no less than 3 months remaining at time of close
  • For Unleased properties we can use the market rent from the appraisal

    • WHAT ARE THE CASH OUT ELIGIBILITY AND RESTRICTIONS?

    The seasoning requirements:

  • 3-month seasoning from your purchase date
  • Delayed Financing are permitted

    • WHAT IS DEBT SERVICE COVERAGE RATIO?

    Debt Service Coverage Ratio (DSCR) is a calculation that helps us determine if a rental investment is generating enough income to make its loan payment obligations.

    DSCR is calculated by the following simple formula:

    DSCR = Monthly Gross Income

    PITIA*

    *Principal, Interest, Taxes, Insurance and Association Fees.

    WHO IS ELIGIBLE FOR OUR RENTAL LOANS?

    Our rental loans are available to the following borrowers:

  • U.S. Citizens
  • Permanent Resident Aliens
  • Non-permanent Resident Aliens
  • LLCs, Limited Partnerships, General Partnerships, Corporations

    • WHAT TYPE OF DOCUMENTATION IS REQUIRED FOR EZ SHORT SALES’S RENTAL LOANS?

    EZ Short Sales requires the following documentation from borrowers interested in our rental loans:

  • EZ Short Sales’s online application, completed by borrower
  • 1-month bank statement
  • A list of properties you currently own (a REO Schedule)
  • No Tax Returns Required
  • Lease(s) – (if currently rented)
  • Sales Contract (on purchase)
  • LLC Operating Agreement or Articles of Corporations
  • Driver’s License

    • Other documents and/or materials may be requested based on the individual borrower’s circumstances and collateral.

    WHAT STATES DOES EZ SHORT SALES OFFER ITS RENTAL LOAN PRODUCTS?

    EZ Short Sales provides lending in all States and District of Columbia except Alaska, Nevada, North Dakota, South Dakota, and Utah.

    WHAT IS THE MINIMUM AND MAXIMUM LOAN AMOUNTS FOR RENTAL LOANS OFFERED BY EZ SHORT SALES?

    EZ Short Sales rental loans have a minimum loan amount of $75K and a maximum loan amount up to $2M.

    WHAT TYPE OF PROPERTIES ARE ELIGIBLE FOR RENTAL LOANS OFFERED BY EZ SHORT SALES?

    The following property types are eligible for our rental loans:

  • Single Family Residence (SFR)
  • 2-4 Unit Properties
  • Warrantable condos must meet Fannie Mae warrantability requirements (LTV cannot exceed 70%)
  • Townhouse
  • 2 acres maximum
  • Non-warrantable condominiums not allowed

    • WHAT TYPE OF RENTAL LOAN RATES ARE OFFERED BY EZ SHORT SALES?

    EZ Short Sales offers competitive rates for both 30-Year Fixed-Rate Loans, and 5/1 and 7/1 hybrid adjustable rate mortgages. All rates are based on individual property and borrower. Call us to learn more.