Investment property financing is a lucrative tool if you have good credit and know how to leverage the stock market. It does, however, generally require that you have the income to support a loan and if you’re self-employed, that can be a unique barrier to receiving rental property loans.
Stated income lenders are one way you can receive financing for an investment property. They are the best option for people who don’t have a traditional source of income but still want to take advantage of vacation rental property loans.
A stated income lender is a financial institution that offers investment property loans to investors who don’t have a traditional income statement, like a paycheck stub, W2, or 1099. This means they review your personal credit and look at alternative sources of income, like your bank statements.
If you aren’t already aware, Dodd-Frank changed a lot of rules around mortgages when it went into effect in July 2010. The purpose was to stop predatory lending practices that led to sub-prime mortgages fueling toxic mortgage-backed securities. Stated income loans were mentioned alongside mortgage-backed securities. That caused a lot of confusion.
The idea of simply stating your income and being taken at your word was an honor system that wasn’t exactly honored across the board. It’s understandable why these loans weren’t meant for the average consumer. But there’s a reason stated income loans existed in the first place.
There’s a lot of talk about how lucrative Airbnb rentals are these days. Before taking the plunge into an Airbnb loan, you’ll need to know what to look for in a property to get the most out of the investment. Many of the Airbnb investments that flop do so because investors miss concerns with the property that are potential red flags.
The Potential for Profit in Airbnb Properties
There are incredible opportunities in Airbnb rental properties. The Airbnb market is projected to bring in profits in excess of $3 billion by the year 2020. The jaw-dropping figure speaks volumes on how lucrative Airbnb can be. More importantly, a share of those profits can be yours when you choose the right properties to rent as an Airbnb.
Investing in rental properties can be extremely lucrative, especially when it’s well financed. While securing funding is one of the major challenges in buying rental properties, savvy income property investors have found a great way around these challenges with stated income loans.
One of the savviest applications is to finance multifamily housing investments with stated income apartment loans.
Would you like to grow the size of your rental-property portfolio?
How about growing it by three units with just one mortgage?
If so, one of the easiest ways to do that would be by simply purchasing a triplex.
Before you do, though, you’ll need to secure the triplex financing necessary for that purchase.
A triplex is essentially the same concept as the more-common duplex, except that there is a third unit. Just like with duplexes, each of these units are independent of one another other than shared walls. Each unit has its own door to the outside, kitchen, bathroom(s), etc.
Looking to add to your real estate investment portfolio? Expanding with duplex financing may be what you are looking for.
While there are countless options, it’s worth considering how a duplex could augment your earnings as well as the best way to go about securing Duplex financing.
As rental property investors, it's important to understand the formal definitions of various property types.
Fortunately, duplexes are a relatively easy property type to nail down. It’s any residential building that entails two separate living units with a shared wall. Keep in mind that this is not the same thing as a twin home, which is also two living units with a shared wall, but the units are owned separately. Duplexes only have one owner.
Small apartment buildings and multifamily properties are currently offering up some of the best returns for investors. What financing options are there for investors seeking to add apartment buildings to their portfolios?
Smaller balance apartment buildings and multifamily properties are among the top property types for investors right now. After several years of giant funds chasing single family homes and larger commercial property deals in prime locations, smaller multi-unit properties can provide some of the most attractive deals for yields and growth.
In the past it hasn’t always been easy for real estate investors to find financing for small balance apartments. Lenders have preferred to put their capital into larger deals. Our new apartment building loan program changes that lender mentality with some of the most attractive rates offered in today’s market on a National level.
Rental property investors can now use our "Single Property Loan" to purchase, refinance or cash out individual rental properties one at a time.
Our new rental investor financing lending programs allow rental investors to build their portfolios 1 by 1.
For rental property investors, the journey to building a thriving portfolio often requires access to flexible and reliable financing. Whether you’re purchasing your first investment property, refinancing an existing one, or tapping into the equity you’ve built over time, having the right lending solution can make all the difference. That’s why we’re excited to introduce our "Single Property Loan" – a streamlined, versatile financing option designed specifically for individual rental properties.
YES…YES…YES!
Rental Home Financing unleashes a totally new lending platform and is now offering a loan program specifically tailored toward rental, income producing properties such as single family (1-4 units), condos, townhomes & multifamily apartments Nationwide. We lend on the verified lease income/cash flow and LTV of the rental properties not the personal income of the sponsor. We do require re-established credit and a preferred minimum 650 FICO score. Our stated investor requirements can be flexible as we are aggressively pricing each real estate transactions across the United States.
Obviously, stated income loans can be very useful for the investors and professional real estate operators looking to capitalize on today’s low rates and rising market valuations. Many loan programs such as Fannie Mae (FNMA), Freddie Mac (FMCC), many local and big banks are VERY tight with lending on residential rental income investment property and don’t be surprised if they ask you to sign away your first born too for added security.
With all of the new Dodd Frank regulations, there are many banks that have exited the market and many more investor and property owners who are not able to qualify for a traditional bank loans and have a true need to refinance existing debt or purchase a residential portfolio of real estate properties.
Realize your opportunity to take advantage of a currently fast paced residential rental real estate market, increasing property values, and competitive interest rates.
Rental Home Financing offers commercial stated income mortgage loans in most locations including:
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Call us today – 1-888-375-7977 and speak with one of our qualified representatives.
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Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240
Rental Home Financing, as the best mortgage lenders we originate rental home loan products and cash out refinance investment property loans as the best investment property refinance lenders. Commercial blanket loans are available with a commercial purpose to suit your needs.
Also, as DSCR loan specialists, we are currently authorized to make such loans in most all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). When you are ready to get a mortgage for rental property, we are ready to serve you.