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- Business
- Non owner-occupied single family
Overview
REO Lending is the nation’s premier lender for buy and hold investors offering, long-term loans for SFR and commercial rental properties, including vacation rentals.
Vision: Be a leader in defining and expanding the eco-system of investors, tenants and service providers for single-family and small multi-family and mixed-use commercial properties
Mission: Deliver the fastest, simplest and most dependable mortgage financing to enable investors to grow their commercial real estate portfolios, improve cash flow and build wealth
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Cashout refinance
Conventional loans
First position loans
Long term financing (10+ years)
Long-term rental loans
Private money loans
Cash-out refinance land loans
Bank loans
Business loans
Non owner occupied loans
Yes, we lend to LLCs, corporations, and limited partnerships provided ownership of the entity is not held by a trust. In addition to borrower requirements listed above, entities must provide corporate documentation. We do not lend to non-profits. We do not lend on properties held in trust. We do not lend to unregistered Series LLCs (SLLCs). All property/entity interest holders must sign a guarantee.
We don’t require income verification, tax returns, or 4506 documentation. This keeps our process fast, simple, and dependable. We do require:
One form of ID for each borrower and guarantor
Voided check
A title company contact
Insurance declarations page
Entity Documents
Condo HOA contact information (if applicable)
Current lender information (for refinances)
Purchase contract and any addendums (for purchases)
We use a tri-merged credit report and either use the middle score of three scores, or the lower score of two scores. Our minimum credit score is 680. Some of our other credit requirements include:
No open foreclosure or bankruptcy
No bankruptcy in the past four years
No foreclosures, short sales or deeds in lieu within the last three years
Minimum three open and qualifying trade lines for 24 months OR minimum of two open and qualifying trade lines and a history that evidences at least three additional qualifying trade lines that were open for at least 24 months each during the last seven years
No mortgage lates in the past 12 months
For credit scores 680 and above, no more than 1 x 30 lates on non-mortgage tradelines over the past 12 months, subject to certain exclusions
For credit scores below 680, no more than 0 x 30 lates on non-mortgage tradelines over the past 12 months, subject to certain exclusions