Posted by Hannah Lapin ● Dec 4, 2019 9:00:00 AM

An Overview of Visio’s Residential Rental Loan Programs

Residential Loan Programs Overview

Visio Lending is the nation’s leader in rental loans because we offer the fastest, simplest, and most dependable mortgage financing to enable investors to grow their rental portfolios. We have dedicated a blog category called “The Visio Box” to educate our borrowers on how our loan programs are specifically designed for professional investors. We have written about our key investor strategies, our product use cases, our rate structures and more. Now we want to give you a consolidated overview of our residential rental loan programs: Single Asset, Portfolio, and Vacation.

 

Single Asset

  • Loan Amount- $45,000- $2 Million (call for higher amounts)
  • Use Case- Rate & Term Refinance, Cash-Out Refinance, Purchase
  • Rate Structure- 5/1 ARM, 7/1 ARM, 30-Yr Fixed, Option to pair 5-Yr IO with 5/1 ARM
  • Loan Term- 30 Years, No balloons
  • Loan-to-Value (LTV)- 80% Purchases, 75% Refinances
  • Minimum Property Value- $100,000 (higher minimums in certain areas)
  • Minimum Credit Score- 660
  • Reserves Requirement- 3 Months PITIA (Principal, Interest, Taxes, Insurance, and Association Dues)

Portfolio

  • Number of Properties- 4-8
  • Loan Amount- $300,00 - $2 Million (call for higher amounts)
  • Use Case- Rate & Term Refinance, Cash-Out Refinance
  • Rate Structure- 5/1 ARM, 7/1 ARM, 30-Yr Fixed
  • Loan Term- 30 Years, No balloons
  • Loan-to-Value (LTV)- 75%
  • Minimum Property Value- $100,000 (higher minimums in certain areas)
  • Minimum Credit Score- 660
  • Reserves Requirement- 3 Months PITIA (Principal, Interest, Taxes, Insurance, and Association Dues)

Vacation Rental

  • Loan Amount- $45,000- $2 Million (call for higher amounts)
  • Use Case- Rate & Term Refinance, Cash-Out Refinance, Purchase
  • Rate Structure- 5/1 ARM, 7/1 ARM, 30-Yr Fixed
  • Loan Term- 30 Years, No balloons
  • Loan-to-Value (LTV)- 75% Purchases, 70% Refinances
  • Minimum Property Value- $100,000 (higher minimums in certain areas)
  • Minimum Credit Score- 680
  • Reserves Requirement- 6 Months PITIA (Principal, Interest, Taxes, Insurance, and Association Dues)

Contact us for more information on our loan products or to get started with your loan. 

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Related: 3 Investor Financing Options, How Visio Determines Interest Rates

Topics: Real Estate Investing, Finance, The Visio Box