What is SBA 7(a) Loan and How to Qualify for It?
10 April 2022
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Baselane has partnered with Lendency to bring you the best loan products
Grow Your Rental Business with Baselane
- Competitive rates and loan amounts
- Flexible loan options tailored for rentals
- Expert guidance every step of the way
- No impact on your credit score
Our Loans are Your Unfair Advantage
- Get an instant quote in one minute
- No income verification (no paystub, W2, or tax returns required)
- Receive funding in as little as 10 days
Purpose-Built Loans for All your Needs
- Competitive Rates
- Loans from $50K to $2M
- Purchases, refinance and cash-outs
- No Income Verification
- Borrow up to 80% LTV
- Long term and Short term Properties
- Turnkey, Rehab, and Ground-up Construction Projects
- Minimum 640 FICO
- No impact on your credit score
How Our Loans Work: Fast and Easy Investment Property Loans
Get Pre-Approved
- Answer 10 questions
- Review offer
- Get terms in 2 minutes
Verify information
- Upload a few documents
- Answer a few additional questions
Close and Fund Deal
- Close within 10 days of full file receipt with our automated processes
- No impact on your credit score
Offering Flexible Loan Options
With more flexibility than traditional sources of financing and a loan expert helping you every step of the way, we can help make your next investment a reality.
Whether you’re purchasing your first property or investing full-time, we’ve got you covered.
- No impact on your credit score
The industry's best purchase and refinancing loans, built for landlords
“The process was easy and straight-forward. The team was extremely helpful and communicative in what they needed from me. Kwame and team were courteous and very responsive. Will definitely work with them on future deals.”
John M., Investor
Fort Lauderdale, FL“Phenomenal service. This team was very professional and gracious throughout the process. Service was exceptional and our transaction was quick and smooth. Will work with them again for sure. Highly recommend them!”
David R., Investor
Philadelphia, PA
Frequently Asked Questions
1. What’s the difference between Rental property loans vs regular home loans?
Some of the biggest advantages of a rental property loan versus a regular home loan are:
- Flexible: Flexible qualifying criteria that do not need to conform to Fannie and Freddie Mac requirements. This allows you to get loans on different property types and sizes, as well as portfolio loans.
- Speed: Faster process, less documentation required. With our loan, no income verification is required.
- Scale: There is a limit to how many regular home loans you can get. With our loan products, you can buy more properties faster when you finance them without a limit on the number of mortgages you have. When you buy a property with only 20% down, that means scaling your real estate portfolio at five times the speed of cash buyers.
Financial Benefits: Even when you take out a loan, you still get all the benefits that come with investment property ownership. You get the tax benefits, the appreciation, and of course income from each property.
2. What type of loan is best for my rental property?
It depends. Read our articles to learn more:
3. What can I do to get the best rental property loan terms?
Generally, higher credit scores allow for larger rental loan amounts and lower rates. Rates can also be lowered by choosing a smaller loan amount relative to the property value (LTV) or “buying down the rate,” which means paying more upfront in exchange for a lower rate. To estimate loan amounts and rates for various scenarios, click here.
4. What is the minimum FICO score requirement?
For rental loans, the minimum median credit score is 640. For rehab loans, it's 680 for newbies and 575 for prolific rehabbers. To see whether your credit score qualifies and receive an instant quote, click here.
5. What interest rates do you offer?
For both rental loans and rehab/construction loans, we offer competitive rates. To see today’s rates for your scenario, click here.
6. What documents are required to get started?
To get started, simply generate an instant quote and request a pre-approval email here.
7. How fast can you close?
Typically, we close within 5-10 business days of full file receipt, including an appraisal.
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