RESIDENTIAL FOR RENT - LONG TERM

RESIDENTIAL FOR RENT
LONG TERM

Here, at AryMing Asset Funding, we make short-term, asset-based loans, sometimes known as hard money loans extended to real estate owners investors and builders.

TYPE

Non-owner occupied investor loans for 1-4 unit residential properties.

  • Minimum $100,000 value
  • Detached, 2-4 unit, townhouse, warrantable condo
  • Multi-property allowed

LEASING STATUS

  • Vacant acquisitions allowed
  • Refinances must be leased

BORROWER BACKGROUND

  • Minimum 650 FICO
  • No foreclosures, bankruptcies, or short sales in past 36 months
  • Entity or Individuals, with foreign national options
  • Six months of reserves at time of close
  • No borrower income verification required

BORROWER RECOURSE

Always required

MAXIMUM LEVERAGE RATIOS

  • Loan-to-value (LTV): 80%
  • Property debt-to-income (PDTI): 90%
  • Loan-to-purchase price (LTPP): 85%

LOAN SIZE

$75,000 to $1,000,000

LOAN TERMS

  • Fixed rates, starting at 6.125%
  • 30-year term, initial IO available
  • 3-2-1 prepayment

LOAN CLOSING

Aryming will draft loan documents and coordinate closing for Table Funding and Funding into Origination