bigger. better. faster
BIGGER.
BETTER.
FA S T E R .
DIRECT PRIVATE MONEY FINANCING FOR RENTAL PROPERTIES Finance of America Commercial LLC is uniquely dedicated to providing our clients with more buying power. Our financial strength combined with our experience gives us the ability to deliver for you.
SINGLE AND PORTFOLIO RENTAL LOANS · Asset-based, cash flow underwrite · No W-2, tax returns, or personal income required* · Loans for non-owner occupied residential properties · Competitive 5, 10, and 30 year terms
PUT THE FORCE OF THE FINANCE OF AMERICA COMMERCIAL PRODUCT SET TO WORK FOR YOU · Over 4,000 closed loans · More than 2,000 approved borrowers · $1.5B in closed loans · Nationwide lender**
(800) 227-8107
FOAcommercial.com See other side for important disclosures.
FINANCING FOR REAL ESTATE INVESTORS
Description
Loan Size
SINGLE RENTAL LOAN
PORTFOLIO RENTAL LOAN
Single property loans to both novice and seasoned investors
Blanket loan for 7+ rental units to experienced investors
$75K - $750K
$700K+
30 year fixed, full amortization
• 5 or 10-year term with balloon due at end of term • Amortization up to 30 years, with interest-only option available***
Term & Amortization
Max Loan-to-Value (LTV) & Loan-to-Cost (LTC) Rates Cash Flow Requirement
Borrower
Purchase: 80%
• Amortized Loans: 75% LTV
Refinance: 75%
• Interest-Only Loans: 70% LTV***
6.50% - 9.00%
5.50% - 7.50%
LTV : Property Debt-to-Income Ratio ≥ 65% : 65% < 65% : 70%
Min Debt Service Coverage Ratio: 1.15x (1.20x for interest only)
Individual or LLC Credit 660+
LLC Credit 660+
Property Types Non-owner occupied: Single family residences, 2-4 family units, Condos, Townhomes, Multi-family 5-20 units (only for Portfolio Rental Loans) *Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates may vary depending upon loan type, LTV, verification of application information and other risk based factors. Application fees, closing costs and other fees may apply. **Products not available in Alaska, Idaho, North Dakota, Rhode Island, South Dakota, Utah or Vermont. ***Any multi-family property 30 years or older can not exceed a 25-year amortization. These properties do not qualify for interest-only loans. REV. 3.01.2017.
© 2017 Finance of America Commercial LLC I I NMLS ID # 1133465 | AZ Mortgage Banker License BK #0926974. CA Finance Lenders License #60DBO 060757. MN: This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. §47.206(3), (4). 500 North Rainbow Blvd., Suite 300, Las Vegas, NV 702-448-2030 NV Mortgage Broker License No. 4136. OR Mortgage Lender #ML-5283. Finance of America Commercial LLC only makes loans for business purposes. Finance of America Commercial LLC is not currently licensed in Utah and is not licensed for certain loans in Idaho. Finance of America Commercial LLC is licensed or exempt from licensing requirements in all other states. Your specific facts and circumstances will determine whether Finance of America Commercial LLC has the authority to approve loans in your specific jurisdiction. Finance of America Commercial LLC operates out of several locations, but not all locations conduct business in all jurisdictions.
BETTER.
FA S T E R .
DIRECT PRIVATE MONEY FINANCING FOR RENTAL PROPERTIES Finance of America Commercial LLC is uniquely dedicated to providing our clients with more buying power. Our financial strength combined with our experience gives us the ability to deliver for you.
SINGLE AND PORTFOLIO RENTAL LOANS · Asset-based, cash flow underwrite · No W-2, tax returns, or personal income required* · Loans for non-owner occupied residential properties · Competitive 5, 10, and 30 year terms
PUT THE FORCE OF THE FINANCE OF AMERICA COMMERCIAL PRODUCT SET TO WORK FOR YOU · Over 4,000 closed loans · More than 2,000 approved borrowers · $1.5B in closed loans · Nationwide lender**
(800) 227-8107
FOAcommercial.com See other side for important disclosures.
FINANCING FOR REAL ESTATE INVESTORS
Description
Loan Size
SINGLE RENTAL LOAN
PORTFOLIO RENTAL LOAN
Single property loans to both novice and seasoned investors
Blanket loan for 7+ rental units to experienced investors
$75K - $750K
$700K+
30 year fixed, full amortization
• 5 or 10-year term with balloon due at end of term • Amortization up to 30 years, with interest-only option available***
Term & Amortization
Max Loan-to-Value (LTV) & Loan-to-Cost (LTC) Rates Cash Flow Requirement
Borrower
Purchase: 80%
• Amortized Loans: 75% LTV
Refinance: 75%
• Interest-Only Loans: 70% LTV***
6.50% - 9.00%
5.50% - 7.50%
LTV : Property Debt-to-Income Ratio ≥ 65% : 65% < 65% : 70%
Min Debt Service Coverage Ratio: 1.15x (1.20x for interest only)
Individual or LLC Credit 660+
LLC Credit 660+
Property Types Non-owner occupied: Single family residences, 2-4 family units, Condos, Townhomes, Multi-family 5-20 units (only for Portfolio Rental Loans) *Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates may vary depending upon loan type, LTV, verification of application information and other risk based factors. Application fees, closing costs and other fees may apply. **Products not available in Alaska, Idaho, North Dakota, Rhode Island, South Dakota, Utah or Vermont. ***Any multi-family property 30 years or older can not exceed a 25-year amortization. These properties do not qualify for interest-only loans. REV. 3.01.2017.
© 2017 Finance of America Commercial LLC I I NMLS ID # 1133465 | AZ Mortgage Banker License BK #0926974. CA Finance Lenders License #60DBO 060757. MN: This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. §47.206(3), (4). 500 North Rainbow Blvd., Suite 300, Las Vegas, NV 702-448-2030 NV Mortgage Broker License No. 4136. OR Mortgage Lender #ML-5283. Finance of America Commercial LLC only makes loans for business purposes. Finance of America Commercial LLC is not currently licensed in Utah and is not licensed for certain loans in Idaho. Finance of America Commercial LLC is licensed or exempt from licensing requirements in all other states. Your specific facts and circumstances will determine whether Finance of America Commercial LLC has the authority to approve loans in your specific jurisdiction. Finance of America Commercial LLC operates out of several locations, but not all locations conduct business in all jurisdictions.
