PrimeLoanInvestor
We make the mortgage process simple for you every step of the way.
At PrimeLoanInvestors, we streamline the mortgage process for both value-add and long-term rental financing. Leveraging technology and automation, we ensure quick loan closures at competitive rates, making your financing journey fast and simple.
MIL Process
Step 1
Click 'Submit a Deal' and input your information regarding what you are looking to have financed.
Step 2
Confirm all the info is correct including the closing date and expect a response back within 24 hours of submitting a deal in the portal.
Step 3
Once you receive your offer and accept it, our team will submit the file to underwriting and begin that part of the process.
Step 4
Our team will gather any other information needed for closing and order title and insurance.
Check your Eligibility
Long Term Rental Financing
Value-Add Financing (Fix and Flip)
Credit Score
680 minimum FICO and no serious delinquencies in the past 2 years.
Max LTV
Up to 80% for purchase or refinance, 75% for cash out refinance.
Loan Amount
$100,000 – $1,500,000 per property; minimum $50,000/unit on 2+ units
Property Type
Single family, 2-4 unit, or 5-8 unit. Manufactured housing and mixed use not eligible.
Location
Property cannot be rural. MSA population must be greater than 75,000. Located in states outside of AK, HI, NV, ND, SD, WY.
Minimum Debt Service Coverage Ratio (DSCR)
Minimum ratio of 1.10.
Loan Term
30 Years
Property Value
As-is value (or purchase price if applicable) greater than $100,000
Prepay Penalty
5-yr step-down (5-4-3-2-1); can be reduced to as low as 2 years
Minimum Liquidity
Down payment, closing costs, six months of mortgage payments.
Credit Score
680 minimum FICO and no serious delinquencies in the past 2 years.
Loan Term
12 – 18 Months
Property Value
As-is value (or purchase price if applicable) greater than $100,000
Prepay Penalty
None
Purpose
Short-term mortgages to buy and renovate properties
Max Loan Ratios
Up to 90% Loan to cost and 75% Loan to after-repair value (depending on experience)
Loan Amount
$100,000 – $1,500,000 per property; minimum $50,000/unit on 2+ units
Property Type
Single family, 2-4 unit, or 5-8 unit. Manufactured housing and mixed use not eligible.
Location
Property cannot be rural. MSA population must be greater than 75,000.Located in states outside of AK, HI, NV, ND, SD, WY.
Minimum Liquidity
Down payment, closing costs, three months of mortgage payments, and 15% of renovation budget; $25,000 minimum.
Frequently Asked Questions
Do you perform a hard credit check? If so, how often?
We only conduct hard credit checks for rental loans after you’ve accepted an offer and the loan is in the underwriting stage. For short-term mortgages, we use soft credit checks.
What counts as liquidity?
Liquidity includes checking, savings, and money market accounts. We may also consider retirement accounts, stocks, and HELOCs at 50% of their balance.
Do you finance vacation or short-term rentals (STRs)?
Yes, we do, but at higher rates and lower Loan-to-Value (LTV) ratios. We will assess the operating history instead of a lease. For STR refinances, we require six months of operating history.
What are the advantages of a portfolio loan compared to separate loans for each property?
Portfolio loans offer lower rates and reduced fixed costs (loan fees and third-party closing costs). You need at least two properties to qualify for a portfolio loan.
Do you provide 100% Loan to Cost financing?
No, we do not. We can finance up to 90% of the Loan to Cost, depending on your experience.
Can I add a partner if I don't meet the credit or liquidity requirements?
Yes, you can. The partner must be on the title within the entity.
Is there a seasoning period for cash-out refinances?
Yes, if the property has been owned for less than three months, the loan cannot exceed 80% of the investment cost (purchase + rehab). For properties owned for three to six months, the loan cannot exceed 100% of the investment cost. After six months, there are no restrictions on investment costs.
Do you lend for auction properties?
We require title insurance for our loans, which many local auction properties do not have. Some online auctions go through a closing agent that provides title insurance, but borrowers should confirm with the seller/platform.
Can I consider options like seller financing or private money for additional capital?
If these options result in a lien on the property, we cannot lend. We need to be in the first position and cannot have any second liens behind our loans.
How quickly can you close a loan?
The timeline depends on the loan product. These timelines start when the file is ready for underwriting (all information and documents are uploaded):Rehab/bridge loans: 10 business days for new clients, 5-7 business days for repeat clientsRental loans: 4 weeks for single properties, 5-8 weeks for most portfoliosConstruction: 3+ weeks, depending on complexity5+ unit multifamily: 4-6 weeks, depending on complexity and appraisal timelines
How do you determine if a property is rural?
Determining if a property is rural helps us assess loan risk and source capital. For short-term mortgages, we consider geographic characteristics such as location in a metropolitan statistical area (MSA) with less than 75,000 people, a city or town with less than 7,500 people, more than 30 miles from a commercial hub or airport, and local areas without visible gridwork from satellite views on Google Maps. For long-term mortgages, we rely on the appraisal and USDA designation to determine rural status.
What are common reasons a loan submission gets denied?
Common reasons for loan denial include:Property not located in a state we finance or in a rural location.Property value (or purchase price) less than $100,000, or loan amount less than $125,000 (or less than $50,000 per unit for multifamily).Credit score below 680 or major delinquencies in the past 2-4 years.Liquidity below $25,000 or insufficient to cover down payment, closing costs, 3-6 months of payments, or rehab reserves.Inexperienced investors undertaking extensive rehab projects.
What types of products do you offer?
We offer 12-month value-add loans, 24-month bridge loans, 12-month construction loans, and 30-year DSCR rental loans (both amortizing fixed and interest-only adjustable rates).
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