SimpleRent
SimpleRent is for landlords looking to build passive cash flow. Single properties or Portfolios. Refinance or Puchase.
SimpleRent Terms
Simplending provides no income verification loan products for 1 to 10 units. With both Fixed Rate & ARM Options
LOAN CRITERIA
- Collateral:
Non-Owner Occupied 1–10 units; Condos; Townhomes - Term:
30 Years/ARM Options - Loan Amount:
$55K–$5M - LTV:
Purchase: The Lesser of Up to 80% of the As-Is Value
or Up to 80% Loan-to-Cost
Refinance: Up to 80% of the As-Is Value
Cash-Out: Up to 70% of the As-Is Value - Property Value:
“As-Is” Appraised Value Must Be Greater Than $100K - Credit Score:
660 Minimum FICO
No Prepayment penalty interest, Only payment 1-10 Units
Why a SimpleRent loan?
Profit
Through availing of a single property rental loan from Simplending, you can enjoy the liberty to determine the profit in different ways.
Tax write-offs
You can enjoy huge tax write-offs with this type of loan.
Extra Income
You can enjoy extra income passively from the rental. It means the financial stability will increase.
Term length
The best part is that Simplending provides up to 30 years of term length. It means you don’t need to worry about a huge amount to be paid as EMI.
FAQs
Several options come as loan schemes for rental property. There are conventional loans, FHA multiunit financing, VA multiunit financing, etc. However, you better avail yourself of a single property rental loan with minimal headache.
Of course, you can. However, you must talk to those loan providers who provide you with this tenure against your loan in the USA.
While applying for a single property rental loan, you must submit rental proof with proper IDs. You never need to showcase your income proof to the lenders for this type of loan.
SimpleBuild 