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California DSCR Long-Term Rental Lenders
Are you seeking long-term private financing for a residential rental property in California? On this page you'll find a list of lenders that offer these DSCR loans for single family homes, condos, and 2-4 unit rental properties in California’s urban areas. Some lenders consider vacation rental (aka short-term rental or STR). The maximum loan-to-value is 80%. For a purchase, investors need a minimum down payment of 20%, and it could be higher depending on the debt service coverage ratio (DSCR), borrower’s credit score, location and other factors. These loans require a FICO score over 680. The loan terms range from 5 to 30 years.
California is an enormous state, and some DSCR lenders only consider specific regions. Filter the lender list by selecting a metro area:
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Nationwide Mortgage - California
Aggressive Pricing, Excellent Service for California Private Mortgages - Bridge, Rehab, Construction, Rental
Funded DSCR Long-Term Rental Loans in California
DSCR Rental Purchase Loan for 4-Unit Residential Property in Fresno, California
RCN Capital, a national direct private lender, funded a $436,000 loan for the purchase of a 4-unit residential property in Fresno, California. The purchase price was $550,000 which included a $5,000 seller credit. RCN Capital funded 80% of the purchase in 1st lien position, and the Borrower contributed a 20% cash down payment at closing. The Borrower had excellent credit and sufficient liquidity to close this loan, along with 2 years of property management/investment experience. The Appraiser’s estimated combined market rent is $4200/month which resulted in a 1.11 DSCR. The fixed interest rate was 7.14% and the loan term was set at 30 years. We charged 2% origination points. The subject property was in excellent condition and had an approximate square footage of 3,992. It was already fully occupied at the time of funding, although tenants were renting on a month-to-month basis. This DSCR rental property loan was funded in September 2022.