DSCR Rental Purchase Loan for 4-Unit Residential Property in Fresno, California

Funded by RCN Capital


Deal Details

Private Loan Type

Residential Long-Term Rental

Approx. Funding Date


Property Type
2-4 Units Residential
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution



30 years

Rate Type


Debt Service Coverage Ratio


Property Neighborhood


Location Type


Property Condition


Occupancy at Closing

All Units Occupied

Number of Units


Building Square Footage


Borrower's Plan

Long-Term Rental

Borrower Credit Rating


Interest Rate


Origination Points


Deal Highlights

Repeat borrower looking to purchase a four-plex home to hold as a long term rental investment
Along with investment experience, borrower has has 2 years of property management experience as well
Excellent credit led to borrower qualifying for 80% of the purchase price for the loan amount
Property is worth $550,000, and estimated market rent is $4200 a month
Property is fully occupied, although tenants are renting on a month to month basis

Deal Summary

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.

Funded By

RCN Capital

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


Loan Officer

Sam Duda

Sam joined RCN Capital in 2020 with two years of agency underwriting experience. He brings with him an understanding of the mortgage industry, a strong work ethic, and a focus on attention-to-detail. Sam strives to create long-lasting and meaningful relationships with mortgage brokers and real estate investors through exceptional customer service and determination to meet his customer’s needs.

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