DSCR Rental Purchase Loan for Single Family Rental in Laurel, Maryland

Funded by RCN Capital


Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Single Family Residence
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution



30 years

Rate Type


Debt Service Coverage Ratio


Location Type


Property Condition


Occupancy at Closing


Building Square Footage


Borrower's Plan

Long-Term Rental

Exit Strategy

Pay Down

Borrower Credit Rating


Interest Rate


Origination Points


Broker Commission


Deal Highlights

Experienced borrower was looking to purchase and hold a long-term cash flowing rental property.
Property is located in an excellent spot in northwest Maryland, just north of Washington DC.
Borrower has a mid-FICO of 688, and RCN was able to provide a loan amount of 70% of purchase price.
Borrower contributed 30% down payment and had ample cash reserves on hand as well.
Four total points on the deal at closing.

Deal Summary

RCN Capital, a national direct private lender, funded a $256,014 loan for the purchase of a single-family residence in Laurel, Maryland, a mostly residential suburban community conveniently located 20 miles from both Washington D.C. and Baltimore. The purchase price was $365,000. RCN Capital funded 70% of the purchase in 1st lien position and the Borrower contributed a 30% cash down payment at closing. The Borrower was an experienced investor looking to purchase and hold a long-term, cash-flowing rental property. They had an average credit with a mid-score of 688 and bank statements that reflected a balance of $592,962.03 in assets/liquidity. The loan was structured and priced in accordance with RCN’s qualification model. The Appraiser’s estimated combined market rent is $2,325/month, which resulted in a 1.10 DSCR. The fixed interest rate was 6.42% and the loan term was set at 30 years. We charged 3% origination points, and the broker earned a $3,200 commission. The property was in good condition with an approximate square footage of 1,520. It was already tenant-occupied at the time of funding. This DSCR rental property loan was funded in September 2022.

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans


Loan Officer

Tommy Kaye

Tommy joined RCN Capital in 2019. He strives to ensure that investors find a product that best fits their financial goals and livelihood. Tommy’s main goal is to build and maintain positive professional relationships with brokers and borrowers alike.

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