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.
New for 2019 - Rental property investors can now use our "Single Propety Loan" to purchase, refinance or cash out individual rental properties one at a time.
Our new rental investor financing lending programs allows rental investors to build their portfolio 1 by 1.
We Are YOUR Lending Partners From Your First Property to Your 100th
Single-Property Acquisition, Refinance, and cash out mortgage Loans for Rental Property Investors – Nationwide with benefits such as:
Both newly formed investors and truly seasoned rental real estate professional are now able to use our Single Property loan program. Professional Landlords will appreciate the streamlined application process, the first time property owners, on the flip side, should use our online resources available to assist those looking to make their own mark into rental property investing.
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:
|Central States||Northern States||Pacific States||Southern States||Western States|
|Minnesota||New Hampshire||Washington||Mississippi||New Mexico|
|Missouri||New Jersey||North Carolina||North Dakota|
|Ohio||New York||South Carolina||Oklahoma|
Call us today – 1-888-375-7977 and speak with one of our qualified representatives.