Single-family rental

Questions

• Can I hold title in an LLC?

  Yes. Requirements vary by lender, and we review the entity structure as part of the scenario. Be ready to identify each owner, their ownership percentage, who can sign, and whether the LLC is active and in good standing. Prepare formation documents and the operating agreement. We confirm additional documents after the initial review.

• How do short term and long term rentals differ?

  Short term rentals involve nightly or weekly stays; long term rentals usually have a lease. Income review varies by lender. For a purchase, tell us the intended rental use. For a refinance, confirm the current rental type and whether the property is occupied. Confirm that no family members occupy it; if vacant, explain why. Prepare an existing lease or booking and income history, if available. We confirm additional documents after the initial review.

• Can foreign nationals apply?

  Yes. Eligibility and documentation requirements vary by lender, and we review each scenario case by case. Tell us your citizenship, country of residence, whether you have U.S. credit, and whether you own U.S. property. Prepare identification; we confirm additional documents after the initial review.

• How is rental income coverage determined?

  We compare rental income with the monthly loan payment, taxes, insurance, and association dues. The exact calculation varies by lender. Prepare current or expected rent, the proposed loan amount, taxes, insurance, and association dues, with supporting documents if available. We confirm anything else needed after the initial review.

• What reserves will I need?

  Borrowers may need funds available after closing. Reserve amounts and acceptable assets vary by lender and scenario. Tell us what funds will remain after closing and where they are held. Prepare recent statements if available; we confirm additional documents after the initial review.

• What are the credit requirements?

  Requirements depend on the lender and the overall scenario; we review credit individually. Tell us your estimated credit score and any known issues: payments 30 days or more late, collections, debts a creditor wrote off, court judgments, tax liens, bankruptcy, foreclosure, a short sale, or returning a property to the lender instead of foreclosure. We confirm any documents needed after the initial review.

• How much of my own money will I need for a purchase?

  The required contribution varies by lender, property, and the overall scenario. Tell us how much you have available and where the funds come from. Prepare recent statements if available; we confirm additional documents after the initial review.

• Does owning other real estate matter?

  We ask about existing properties, mortgages, rental income, and expenses. Their effect on eligibility varies by lender and scenario. Prepare a property list with mortgage balances, rental income, and expenses, plus recent mortgage statements if available. We confirm additional documents after the initial review.

• When can we discuss pricing?

  Pricing depends on the lender, property, credit, and overall scenario. The property details, proposed loan amount, rental income, credit information, and available funds are sufficient for the initial review. We confirm anything else needed before discussing pricing.

• Can I use gift funds?

  Gift funds may be accepted depending on the lender and scenario. Tell us who is providing the gift, their relationship to you, and whether repayment is expected. We review the source and confirm documentation requirements after the initial review, before confirming whether the funds are acceptable.

• Can I hold title in a trust?

  Trusts may be accepted depending on the lender and scenario. Tell us the trust type, the trustees and beneficiaries, and who can sign. Prepare trust documents if available. We review the structure and documents before confirming eligibility, and confirm anything else needed after the initial review.

• Who makes the credit decision?

  The lender that funds the loan. Blind Brook Capital arranges the financing and reviews the deal before submission. The lender makes the final credit decision and sets the terms.