A refresher from last year.
What investors should gain from the following summary:
Lending is has become very basic with very few exotic mortgages (No stated income, no high LTV loans to investors, much more scrutinized underwriting). The summary should give the investor a very concise look at what is actually available and how to prepare/request a loan.
1. The 3 basic sources of loans and solutions for investors :
- a. Bank (local) financing ( these are portfolio loans,typically for investors who have good net worth, may have more than 10 properties, or other obligations which may prevent conventional fannie mae loans)
b. Private/ hard money (again, short term for rehab or quick acquisitions. Typically 3 month to 12 month loans)
c. Long term financing/mortgages: (for purchase of currently occupied or move in condition properties. We use to refinance bank and private money loans). These your basic government insured and guaranteed:
FHA (primary residence only)
FANNIE MAE/FREDDY MAC (primary, 2nd home, investor) *** the only loans for investors
USDA : (rural, primary only, )
VA (primary residence loans for military veterans)
2. How we can help overcome common problems associated with investment property financing.
Some problems you may have faced in the past for investment property loans:
No limit on number of properties (you have more than 10, more than 20) bank (local bank or hard money) – PORTFOLIO LENDING
seller carried 2nds to 100% CLTV (you want 0 down) hard money
no landlord experience (new investors)
no reserve requirements (lender stated you lacked proper reserves)
no job verification ( we have no documentation investment loans)
3. We are investment loan consultants and offer Quick analysis of the initial financing decision:
NOTE: READ BELOW ON HOW TO OBTAIN RENTAL PROPERTY WITH VIRTUALLY NOTHING OUT OF POCKET AND HAVE 20-30% EQUITY THE DAY YOUR RENTER MOVES IN!
Short term/rehab loan: you need an investment loan to acquire property to rehab
and sell. Maybe you need a loan to secure your investment real estate
To fix and turn into a rental.
REHAB TO RENTAL: Let us show you how to acquire with private money or bank money. Then let us refinance your bridge loan into long term financing for Texas rental property.
Monty Busch
Rehabbers Capital
UC Funding for commercial loans
214 213 8967