Next-Financing Fix & Rent Loan


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Let us help you grow your rental portfolio

Our Rental Loan product provides our customers a reliable source of financing through a simple and efficient online loan process.  Our 30-year fixed-rate rental loan product was designed to help savvy investors capitalize on the rapidly growing rental market. With attractive rates and up to 80% loan-to-value (LTV) on fixed-rate loans, these loans are a great way to get cash out from your existing rental properties.  Our Rental Loans begin at $75K and up to $2 million with no personal income verification.


Rental Loan


Get Cash From Your Existing Rental Portfolio

Next-Financing’s Asset-Based Loans can provide the cash you need to grow your rental portfolio.

Benefits include:

  • Get cash from rental properties – loans from $75K to $2 million.
  • Lower your blended rate – consolidate higher-rate loans into single mortgage.
  • No personal income verification – lending decision based on property cash flow.
  • No hurdles – flexible loan options designed for your buy and hold strategy.


Advantages of Next-Financing Rental Loans

  • Cash out refinances
  • No personal income verification – no W-2 required
  • Minimum seasoning requirements*
  • 620 min. FICO
  • No hurdles- a very user-friendly and streamlined process
  • Foreign Nationals Permitted
  • No DSCR Restrictions* (Debt Service Coverage Ratio)
  • Prepayment penalty**


Rental Loan Overview

Purpose:  Refinancing and Acquisition

Proceeds/Loan Amount:  Starting at $75K to $2 Million

Rate Type:  30 Year Fixed and Interest-Only Option

Available ARM Terms:  3, 5 and 7 Years

LTV:  Up to 80%

Amortization:  30 Years

Recourse:  Recourse Options

Minimum Property Value:  $60K to $2 Million

Property Types:  Single-family detached, 2-4 unit residences, townhouse, 10 acres maximum, warrantable condos (non-warrantable condos not allowed).


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Rental Loan FAQ’s


Q:  What type of Rental Loan Rates are offered by Next-Financing?

A:  Next-Financing offers both fixed a 30-year rate starting at 6.35% and hybrid adjustable rate mortgage, 3/1, 5/1 and 7/1, starting at 5.75%. All rates are based on individual property and borrower.  Call us too learn more.           800-605-1821

Q:  What type of properties are eligible for Rental Loans offered by Next-Financing?

A:  The following property types are eligible for our Rental Loans:

  • Single Family Residence (SFR)
  • 2-4 Unit Properties (LTV cannot exceed 80%)
  • PUDs
  • Warrantable condos must meet Fannie Mae warrantability requirements (LTV cannot exceed 70%)
  • Townhouse
  • 10 acres maximum
  • Non-warrantable condominiums not allowed

Q:  What are the minimum and maximum loan amounts for Rental Loans offered by Next-Financing?

A:  Next-Financing Rental Loans have a minimum loan amount of $75K and a maximum loan amount up to $2M.  A borrower can have no more than $3M worth of loan amount and no more than 6 properties.

Q:  What States does Next-Financing offer it’s Rental Loan Products?

A:  Next-Financing provides Rental Loans in all States and District of Columbia except Alaska and South Dakota.

Q:  What is the minimum FICO Score for Next-Financing’s Rental Loans?

A:  Next-Financing’s Rental Loan FICO score minimum is 620.  Tri-merged credit report is required for all personal guarantors and determined as follows:

  • If 2 credit bureau scores are reported, the representative score is the lower score; and
  • If 3 credit bureau scores are reported, the representative score is the middle score.
  • Foreign Nationals without an ITN are not subject to FICO requirements

Q:  What type of documentation is required for Next-Financing’s Rental Loans?

A:  Next-Financing requires the following documentation from borrowers interested in our rental loans:

  • Next-Financing’s online application, completed by borrower
  • Most recent two months bank statements or the most recent quarterly statement
  • A list of properties you currently own (a REO Schedule)
  • No Tax Returns Required
  • Lease(s) – (if currently rented)
  • Certification of Business Purpose/Non-Owner Occupied Affidavit
  • Sales Contract (on purchase)
  • LLC Operating Agreement or Articles of Corporations
  • Driver’s License

Other documents and/or materials may be requested based on the individual borrower’s circumstances and collateral.

Q:  Who is eligible for our Rental Loans?

A:  Our rental loans are available to the following borrowers:

  • U.S. Citizens
  • Permanent Resident Aliens
  • Non-permanent Resident Aliens
  • Foreign Nationals
  • LLCs, Limited Partnerships, General Partnerships, Corporations

Q:  What is Debt Service Ratio Coverage?

A:  Debt Service Coverage Ratio (DSCR) is a calculation that helps us determine if a rental investment is generating enough income to make its loan payment obligations.

DSCR is calculated by the following simple formula:

DSCR = Monthly Gross Income

*Principal, Interest, Taxes, Insurance and Association Fees. 

Q:  What are the cash out eligibility and restrictions?

A:  The cash out eligibility and restrictions are the following:

  • Six months since prior financing or date of purchase is required.
  • Delayed Financing Exception per FNMA permitted and prior Bridge Loans with Next-Financing qualify.
  • Loans not eligible for cash-out: Properties listed for sale by the borrower in the past three months.

Q:  Does my Rental Property have to be leased before closing?

A:  The following are the lease requirements:

  • An executed lease with no less than 3 months remaining at time of close
  • Unleased properties the gross rents indicated on the 1007 may be used
  • Gross income is the lower of actual rents and market rent as indicated on Form 1007

Q:  Can I live in one of my rental properties or rent it to a family member?

A:  No.  Next-Financing provides commercial only loans that are non-owner occupied (investment) properties.

Q:  Is there a Prepayment Penalty?

A:  Prepayment Penalty conditions are as follow:

  • Term: 3 Years
  • Type: 80% of 6 months interest
  • There are buy down options, please call us to learn more.  800-605-1821.