Funding To Build Your Rental Portfolio.

No doc, no hassle loans make it easy to get the capital to purchase income producing rental properties.

Fast Approvals

We have streamlined our approval process to get you approved FAST!

Easy Process

Our easy application process doesn’t require you to fill out endless forms or to provide supporting documentation.

Highly Competitive Rates

We are here to get you funded fast, easy, and at fair competitive rate.

Funds in 14 - 21 Days

Most loans are funded in only 14 to 21 days, so you can get on with your life.

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No Income Rental Loan Highlights

No personal income required

Interest rates starting at 6.49%

660 Minimum fico score

30 Year fixed rate term

Single-family, 2-4 Units, 5+ Units, Condo, Townhome

Short Term Rental

Nationwide lending area

About No Income Rental Loans.

No income rental Loans are a great solution for individuals and LLC’s who have an opportunity to purchase a property that will generate a positive rental income. We are proud to work with experienced landlords, as well as first-timers.

One key advantage of a Brass Financial rental loan over a traditional mortgage is that we use your property’s rental income potential as the key factor in approving your loan, instead of requiring certain credit scores and personal income debt levels. There are fewer documents involved, making the approval process much quicker and easier.

Fast Approvals

Easy Process

Highly Competitive Rates

Funds in 14-21 Days

No Income Rental Loan FAQ’s

How can you offer rental loans that do not require proof of income?

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.

What do you mean by debt service or DSCR ratio?

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.

What is a FICO score?

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.

How can I increase my FICO Score?

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.

In which states do you offer no income rental loans?

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

Is a rental loan the same thing as a landlord loan?

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

Is it easier to get a mortgage for a rental property with a bank or a traditional lender, compared to getting a loan through Brass?

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.

I want to buy my first rental property. Can I qualify for a rental loan without any experience as a landlord?

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

How long does it take to receive the funds from your rental loans?

Our no income rental loans close on average in 14-21 business days or less. Our process is fast and it’s easy!

What do first time landlords need to know?

Being a landlord isn’t easy and can be quite difficult at times, depending on the tenants you select. However, it can also be very rewarding and has proven to be one of the best ways to build wealth. Read more about this topic in our blog.

How do I finance my first rental property?

The best way to finance your first rental property is simple. Contact one of our loan experts and they will help answer all your questions and guide you through the process. They will also issue you a LOI (letter of intent), which will outline all of your approval terms and cost. There are never any unexpected surprises when you work with Brass. We will also issue you POF (proof of funds) letters as needed to get your offers accepted quickly.

How do you get approved for a rental loan?

It’s easy! Simply click on the GET APPROVED tab above and answer a few questions. You are also welcome to call one of our trained loan experts for assistance at (609)800-FUND. They will be happy to help you get the funds you need. To get approved for a rental loan we will need the following information:

  • Property address
  • Purchase price or value if refinancing
  • Monthly expenses on the subject property, including taxes and insurance
  • Monthly rental income on the subject property or fair market rent, if vacant
  • Credit score
What are blanket loans and do you offer them?

Blanket loans are loans that cover multiple properties under one loan.

Do you have loans with little or no seasoning requirements?

Yes we have a variety of loan options that offer little or no seasoning requirements. This is a great way for real estate investors to buy property at a distressed sales price. Then they can immediately refinance at true market value to recoup all of the funds used to purchase the property. They can also take additional cash out.

What is the interest rate for a rental loan?

Interest rates for our no income rental loans vary, but are very competitive. We have seen rates in the 4’s with low LTV’s (loan to values) and high credit score with good debt service ratios. Most clients can expect to see rates in the 6 to 7% range.

What is a proof of funds letter and how can I get one?

A POF letter is like a pre-approval letter from your lender which states you have already been approved for a line of credit to purchase a property. To get a POF letter, simply call one of our loan experts and answer a few questions. In most cases, we will be able to issue you a POF letter within 30 minutes.

Easy Process

We have simplified the no doc rental loan financing process so you can get back to the important job of running your business.

The application process is quick and easy. Our team of expert lenders is here to guide you through every step of the process, answering any questions you may have, as well as offer advice on additional loan options that may be a better fit for you and your family.

If you’re accustomed to dealing with large corporate lenders, you’ll be pleasantly surprised how easy we have made this process!

We make the process easy:

  • No tax returns
  • No income required
  • No employment verification
  • No W-2’s or 1099’s
  • No profit or loss statements

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