7 Year Loan

Merchants Mortgage 7 year fixed-rate loan is available for 1-4 unit residential, non-owner occupied investment properties that are rented or plan to be rented in the immediate future and are in move-in condition. This loan is not available for fix-and-flips, please see the Fix-and-Flip Loan. These loans are a great solution for qualified investors who are looking to hold properties, but whose needs are not currently met by conventional loan products available. Debt ratio is calculated off of the rental income only.


General Loan Terms

  • 65% - 75% LTV – No Cash Out
  • 30 year term; PITI + HOA (if applicable) monthly payments
  • 7.5% - 8.5% fixed rate for 7 years. 1 year adjustable rate thereafter
  • Prepayment penalty applies if paid off in the first 12 months
  • 2% Origination Fee
  • Standard Closing Costs Apply
  • 620 minimum FICO score
  • Property must be titled in Limited Liability Company
  • Available for properties in AZ, CO, KS, MN, MO, OR, TX, UT and WA

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