ESU-Global is committed to your future investments with our Long-Term Rental loan program. This program offers a 30-year term and rates starting at 6.99% to ensure that our customers have true long-term financing options.
Loan Criteria
Collateral
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes; Planned Unit Development (PUD)
LTV:
Purchase:
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 75% of the As-Is Value
Amortization Options:
30-Year Fixed, Hybrid ARMS (5/1, 7/1, 10/1) & Interest-Only Options Available
Property Values:
“As Is” Appraised Value Must Be $100k or Greater
(Geographical Restrictions May Apply)
Loan Amount:
$55k – $2M
Debt Service Coverage Ratio (DSCR):
1.10
Minimum FICO:
660
Rates:
Starting at 6.99%
OTHER CONSIDERATIONS:
PURCHASES
| FICO | Maximum Loan-to-Value (LTV) | Maximum Loan-to-Cost (LTC) |
|---|---|---|
| 740+ | Up to 80% of the As-Is Value Loan-to-Value (LTV) | Up to 80% Loan-to-Cost |
| 700-739 | Up to 80% of the As-Is Value | Up to 80% Loan-to-Cost |
| 680-699 | Up to 75% of the As-Is-Value | Up to 75% Loan to Cost |
| 660-679 | Up to 60% of the As-Is-Value | Up to 60% Loan to Cost |
RE-FINANCING
| FICO | Maximum Loan-to-Value (LTV) |
|---|---|
| 740+ | Up to 80% of the As-Is Value |
| 700-739 | Up to 80% of the As-Is Value |
| 680-699 | Up to 75% of the As-Is Value |
CASH-OUT
| FICO | Maximum Loan-to-Value |
|---|---|
| 740+ | Up to 75% of the As-Is Value |
| 700-739 | Up to 75% of the As-Is Value |
| 680-699 | Up to 70% of the As-Is Value |