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Displaying items by tag: financing
How to Finance a Home into Income Property - What are my options?
Financing home
Financing home loans are not as confusing as one might think. Financing a home into income property can be a great way to make some extra money each month. There are a few things you need to consider when financing your home in this way, though.
Here are a few of your options to consider: Issues of the purchase price, down payment, conventional loans vs other loans, mortgage insurance premiums, closing costs, fixed-rate mortgage vs adjustable rate mortgages... it seems a lot to take in but we are here to help turn your home into passive income with a mortgage program to help break past your current income limits.
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Real Estate Investors
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A Guide to Choosing Your First Investment Property
We all have dreams of either a side hustle or retirement renting to others. It’s actually a great idea, so long as you understand what you’re getting into. In fact, 91% of cities in the U.S. are seeing rising rents, so there’s no better time than now to get started.
But securing investment property financing can be daunting. It’s actually a great market, but traditional lenders and investment advisors aren’t always well-versed on these types of purchases.
You may not want to be pigeonholed into the one- to four-unit loans traditional mortgage lenders can provide. This is why companies exist to make it easier than ever to explore and understand the wide world of investment properties, whether you’re renting a room in your home or buying an apartment building.
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Real Estate Investors
What Is a Portfolio Mortgage?
Portfolio mortgages are loans that are kept on the books instead of being sold. The significance of this to borrowers is that by not being sold on the secondary market, originating lenders can draft more flexible criteria for qualification. By relaxing qualification requirements, you can get access to money that would be denied to you elsewhere.
The Rundown on Portfolio Mortgages
Portfolio mortgages are held in the lender’s investment portfolio and are not sold on the secondary market. As such, they are not subject to the much more stringent terms that you’ll encounter with conventional lenders like banks. By not being held to the same standards, lenders that work with portfolio mortgages can make it easy for you to qualify.
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Blanket Loan Mortgages
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What is Required for Stated Investor Loans?
Stated Residential Investor – 1- 4 Family Requirements
Rental Home Financing now provides a stated program for residential rental properties that does not require borrower tax returns to conform to a global underwrite. We like to see a minimum FICO score of 650 and will base the underwriting off of the asset(s). Typical guidelines are as follows:
Financing for 1 to 4 units investment/rental units free standing or attached duplex, triplex and fourplex properties. “blanket mortgage” funding available for multifamily apartment properties.
- 30-year amortization
- Property identification (application)
- Credit report with middle score of 650
- Maximum LTV of 75%
- No rehabilitation or construction costs financed.
- Will finance completed properties as a take-out/permanent mortgage funding.
- Borrower may use “stated income” - No personal debt to income ratios. No global underwrite.
- Appraisal done by a National Appraiser Service with average cost in the $400 to $600 range/property.
- 1 – 2% lender origination points.
- Property tax and property insurance impounds are required.
- 3/30 - 5/30 - 7/30 - 10/30 / 30/30 Fixed Rates
- Prepayment penalty is 3% for 1-4 unit deals and 5% for commercial. Borrower can pay off 20% of equity in any 12 month rolling period without triggering prepayment penalty. Example: 3 year fixed loan, a borrower can pay off 60% of principal without triggering penalty.
- Prepayment penalty can be bought down options available.
- 2% max gift allowance of total loan amount.
- First time buyers can be allowed
BOTTOM LINE:
STATED INCOME LOANS = EASY APPROVAL & CLOSING
Rental Home Financing offers commercial stated income mortgage loans in most locations including:
| Central States | Northern States | Pacific States | Southern States | Western States |
|---|---|---|---|---|
| Illinois | Connecticut | Arizona | Alabama | Colorado |
| Indiana | Delaware | California | Arkansas | Idaho |
| Iowa | Maine | Nevada | Florida | Kansas |
| Kentucky | Maryland | Oregon | Georgia | Montana |
| Michigan | Massachusett | Utah | Louisiana | Nebraska |
| Minnesota | New Hampshire | Washington | Mississippi | New Mexico |
| Missouri | New Jersey | North Carolina | North Dakota | |
| Ohio | New York | South Carolina | Oklahoma | |
| Wisconsin | Pennsylvania | Tennessee | South Dakot | |
| Rhode Island | Virginia | Texas | ||
| Vermont | West Virginia | Wyoming |
Call us today – 1-888-375-7977 and speak with one of our qualified representatives.
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Stated Investor
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NO-LIMIT INVESTOR PORTFOLIOS
No limit investor portfolio! Investor property finance loans from a direct commercial lender. There are no limits on the number of properties your portfolio may include; whether 1 or 3,000, we likely have a solution. Mortgage financing is available for single-family houses, condos, and apartments in most areas of the United States at competitive rates.
We are now working with the best of breed and savy investor for the most competitive rates available today. Our group is actively searching for the best opportunities to fund in the rental housing market business in most states in of the USA. Loan Amounts ranging $500,000 to $50,000,000+.
New Investor Property Finance Loans for 2023
Over 5.5 billion under management. We are proud to be providing the first wave by providing a much-needed product for investors with sensible underwriting and competitive rates.
Currently there is no limitation on the number of properties that can be included within the portfolio. Conservative, common since underwriting is used to determine loan proceeds and interest rate.
Start Your No limit Investor Portfolio
Contact one of our qualified representatives for more details on our No-limit investor portfolio program. You need investor property finance loans from a direct commercial lender. This ever evolving product and we are at the forefront of loan technology to keep you in profit.
We do offer lines of credit for those well qualified sponsors and property managers looking to grow towards hundreds of rental and apartment properties.
Call us today – 1-888-375-7977 and speak with one of our qualified representatives!
Rates for Investment Property:
Houses - Condos - Apartments - Town-houses
| Term | Type | Index | Prepay prd. | Recourse | Max LTV | Min. DSCR | Amort. |
|---|---|---|---|---|---|---|---|
| 5 years* | Fixed | 5-year Swap | Options | Non-recourse | 60% | 1.2x | 30 years |
| 5 years* | Fixed | 5-year Swap | Options | Full recourse | 75% | 1.2x | 30 years |
| 10 years* | Fixed | 10-year Swap | Options | Non-recourse | 60% | 1.2x | 30 years |
| 10 years* | Fixed | 10-year Swap | Options | Full recourse | 75% | 1.2x | 30 years |
- From $50,000 - $50,000,000+
- 30 Year Amortization
- 5 -10 - 30 Year Fixed Rates
- Up to 75% LTV
- Competitive Market Rates
- Non-Recourse options
- Unliminted Cash Out
- Prepayment options
- Minimum 630 Credit Score
LOAN PARAMETERS | FORIEGN NATIONALS | RENTAL PROPERTY LOANS | OUR BLANKET LOANS
Rental Home Financing: For Fast Profitable Real Estate Investing!
Landlord Financing
Rental Home Financing specializes in landlord financing by providing permanent financing for investors with at least 1 property in most areas of the country with our innovative new programs geared toward the entrepreneur investor.
Avoid balloon payment problems with long term rental income. Whether you are in search for money lenders for a commercial loan like an airbnb loan or a multifamily property, we got you covered.
Rental Home Financing Investment Loans
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Foreign National
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Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240
About Rental Home Financing:
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.