NoRedTape
Calabasas, California
NMLS ID 103098
Direct Lender for Long-Term Rentals and Short-Term Vacation Rentals
NoRedTape is a direct lender specializing in DSCR financing for residential rental properties in 40 states. We offer excellent service and the lowest origination fees in the industry.
- Purchase a long-term rental property
- Refinance a long-term rental property
- Purchase a property to rent as a nightly/weekly rental (Airbnb/VRBO)
- Refinance a short-term rental property
We work with real estate investors and mortgage brokers.
Property Geographic Area Details
Loan Amounts
Interest Rates
Loan Terms
Origination Fees
Lien Position
Property Types
- 2-4 Units Residential
- Condominium
- Single Family Residence
Loan Types
- Residential Long-Term Rental
Specialty Loan Types
- Residential Long-Term Rental
- Residential Non-Prime
Max Loan-to-Purchase Price
80%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
noWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
Minimum Loan Amount
$150,000Maximum Loan Amount
$10,000,000Minimum Interest Rate
4%Maximum Interest Rate
5%Minimum Origination Fee
-1.5%Maximum Origination Fee
0.75%Minimum Loan Term
36 monthsMaximum Loan Term
360 monthsMinimum Debt Service Coverage Ratio
0.75Will Lend on a Portfolio of Rentals
NoMinimum Property Value
$187,500Multi-Purpose Lender Fee
We have one fee which covers the credit report, underwriting, processing and loan docs.
Appraisal Fee
Appraisal fee is paid directly to a 3rd party appraiser
Fees which are mandatory for all new borrower clients
- Multi-Purpose Lender Fee
Fees which are paid to a third party company
- Appraisal Fee
Get In Touch
Stay Informed About Private Lending
NOREDTAPE is a Nationwide Wholesale Jumbo and Non-QM Direct Lender located in Calabasas California, which is part of a 20+ year old mortgage banking firm. We well capitalized and works with the Nation’s largest loan aggregators that manage billions of dollars of their own funds, who are not subject to margin calls. This means NOREDTAPE was built to be here another 20 more years.
All loans are underwritten in-house with no Investor approvals, which enables exceptional turn times where most loans are closing in less than 30 days. Over 30% of NOREDTAPE’s fundings are made with in-house exceptions, which means we know a good loan when we see it. We’re passionate about non-agency loans and pride ourselves on closing deals that many lenders pass on. The other 70% close with us because of our competitive pricing, aggressive guidelines and fast turn times.
ALTRA Mortgage Capital LLC. All rights reserved. ALTRA Mortgage Capital LLC is the owner of all related designs, trademarks, copyrights, and other intellectual property. Rates, fees and programs are subject to change without notice. Other restrictions may apply. BM Real Estate Services Inc., DBA NOREDTAPE Equal Housing Lender. NMLS #103098 – nmlsconsumeraccess.org.
Office Locations
5016 North Parkway Calabasas Suite 200, Calabasas, California 91302Our Team
Blake Scheifele
NMLS ID - 292984
CA DRE Broker Lic. - 01038258
Get In Touch
Stay Informed About Private Lending
Our Minimum Loan Amount Is
$150,000
What We Do
- Residential Rental Property Loans
- SFR, Condo, 2-4 Units
- Qualify on Property's Rental Income
- 30-Year Loan Term
Not Available
- NO 100% Financing
- NO Rural Properties
- NO Ranches or Farms
- NO Commercial Properties
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Contact This Lender
Contact NoRedTape DSCR by whichever method you choose.
If you submit a loan request or email, it will be sent to the lender, and they will reply to you directly. A copy will be saved in our database. We will not share your information unless you ask us for recommendations.