October 15, 2026 · Education · Sayasone Phongvichith

What we finance: eligible and ineligible property types

RED lends on non-owner-occupied residential investment property. Here is what qualifies, what does not, and why it matters before you send a scenario.

Two columns: red checks next to single family, 2 to 4 unit, condominiums, townhomes and planned unit developments, and gray crosses next to mixed use, commercial, co-ops, mobile or manufactured, and operating farms and ranches, with a note that it is non-owner-occupied investment property only.

A scenario moves fastest when the property fits. Here is what we finance and what we do not.

What we finance

Non-owner-occupied residential investment property:

Single family residences
2 to 4 unit multifamily
Condominiums
Townhomes
Planned unit developments

Buildings with five or more units have their own program, Multifamily 5+, with its own requirements.

What we do not finance

Examples include mixed use, commercial, co-ops, condotels, mobile and manufactured homes, cabins and log homes, leasehold properties, oil and gas leases, operating farms, ranches and orchards, vacation or seasonal rentals, unique, exotic or luxury properties, and properties on unpaved or dirt roads.

Business purpose only

Every loan is a business-purpose loan on an investment property, and an LLC or corporation must hold title. A home you or your family will live in is not eligible.

Why it matters

Checking the property type first saves you from sending a scenario that cannot work. If you are not sure where a property falls, ask. We would rather give you an early no than a late one.

Program figures are indicative only and subject to complete documentation, underwriting, appraisal and final credit approval. This post is general information, not financial or legal advice.