Rental Property Loan

Real estate means more than your primary residence. We have loans for members interested in purchasing or refinancing a rental property.

Loan features

Whether you're ready to refinance a property you’re already renting out, or you want to purchase a smart real estate investment, LGFCU has a Rental Property Loan just for you.

  • Up to 80% financing of the rental property’s appraised value is available for the purchase of a rental property or for a no cash-out refinance. Request is further limited to 65% loan-to-value for cash-out refinance. Cash-out refinance is defined as any funds that exceed the balances owed on the first and/or second mortgages being paid off, plus closing costs.
  • You may be eligible for an Adjustable Rate Mortgage or Fixed-Rate Mortgage loan, which are subject to approval. Greater than 90% loan-to-value limited to maximum financing of $400,000. There is an additional fee for refinance transactions of 0.50% of the loan amount (no cap). Taxes and insurance are not included in monthly payment estimates; actual monthly payment will be greater.
  • Rental property must be located in North Carolina, South Carolina, Virginia, Georgia or Tennessee. Members must reside in North Carolina or bordering states to be eligible.

Next Steps

Choose a way to request your Rental Property Loan.