Our rental loans are asset based and credit score driven. As such, we don’t require our customers to provide any personal income to get approved with us. Rates are determined by the loan to value, the properties debt service ratio and FICO/credit scores. We even offer loan options for customers with little or no credit, and for properties that do not have debt service.

The debt service ratio is what the total monthly mortgage payment will be on the subject property, including the taxes and insurance vs. the fair market rental income. For example, if your total monthly mortgage payment is $1,000 and your rental income is $1,200, you divide your mortgage total into your rental total, which will give you your debt service ratio, which in this example would be 1.20%. The higher your ratio, the better your terms and rates will be.

Your FICO score is a rating that the 3 credit agencies use. Scores are typically between 350 and 800. This score is used by lenders to determine your likelihood of repaying a loan as agreed. Most lenders rely on FICO score to provide you with the terms they are able to offer. The higher your FICO score, the better your loan will be.

There are ways you can increase your fico score. The most important one is to make sure you pay all of your accounts on time. Review your credit reports to make sure there aren’t any mistakes. If you find a mistake, you can dispute it to get it corrected. Another way to improve your FICO score is to pay down some of your accounts, which will lower your credit utilization percentage, which in return will help increase your score.

There are a lot of different tactics that we have seen clients use and there are some really good companies that also specialize in credit repair. We have found some to be better than others, so make sure you shop around and read their reviews before moving forward. One company that we have seen a lot of positive results from is a company called Nav. To set up your account, simply click HERE to get started.

We are a nationwide lender. We offer no income rental loans in all 50 US states.

Yes, different areas of the country use different terms, but they both are the same loan type.

As a private lender, we are much more lenient than traditional lenders, as we make asset based decisions. Unlike banks and traditional lenders who focus on a client’s personal income, job, assets, debts, and employment history — which can take 2 to 3 months to process. This can affect the approval process. Real Estate investors don’t have months to determine whether or not they will be approved. They need to close fast. At Brass we typically close all of our loans in under 15 business days without all the red tape that traditional lenders require, which makes it easy for you to build your rental portfolio.

Absolutely! We will help you look closely at the numbers to determine if you are making a sound investment.