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.
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 620 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.
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.
There are no limits on the number of properties your portfolio may include; whether 1 or 3,000, we likely have a solution.
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 for 2018...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. Rate range between 5.5% - 7.5%
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.
Contact one of our qualified representatives for more details on this ever evolving product.
We do offer lines of credit for those well qualified sponsors and property managers looking grow towards hundreds of rental and apartment properties.
|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|