Banks have raised interest rates and are even more reluctant now than before to loan on investment properties. This hesitancy is making it even harder for the casual real estate investor to either get into the rental investing space or continue growing their current rental property portfolio. That is why LendingOne’s newest mortgage product, Investor Select, addresses these growing concerns for borrowers. Investor Select is a mortgage loan designed exclusively for the aspiring or casual investor who owns less than 10 properties and wants to receive financing in the name of their LLC, instead of their personal name. Investor Select offers rates competitive to banks and greater flexibility on loan and underwriting requirements.
Where banks and mortgage companies were not a good fit for landlords before—limiting total number of financed properties, more paperwork required to qualify, longer close times—now it has become even more challenging because of the agency-directed rate increases and more restrictive loan requirements they are placing on potential borrowers.
“Recognizing the difficulties banks create for landlords seeking financing for investment properties, LendingOne’s Investor Select mortgage loan couldn’t have come at a better time, says Matt Neisser, CEO of LendingOne. “We wanted to create a product for aspiring and casual real estate investors that offers competitive rates, flexible underwriting, and fast close times. We are very excited for the opportunities Investor Select now brings for our rental investors in the single-family rental (SFR) space today.”
Investor Select can be used to finance the purchase of rental properties, or rate/term and cash-out refinances for currently owned ones. The following are program highlights:
Close loans in the name of your LLC
30-Year Fixed-Rate terms
No tax returns required
Up to 80% LTV on Purchase and Refinances
Up to 75% LTV on Cash-Out Refinances
Close in weeks instead of months
LendingOne is the fastest-growing nationwide single family rental lender. Our mission is to make the overall process of applying and receiving loans for real estate investors quicker and more reliable. We are fortunate to have over 1,000 existing clients come back to us each year. That’s more than $1B in loans to repeat clients. We offer excellent service, a professional approach, reliable industry experts to provide a tailored strategy, and one-on-one transaction support to help our borrowers grow their portfolios. We partner with small investors, large landlords, developers, and real estate funds, all with the same passion for success.
Source : https://www.prweb.com/releases/as_banks_pull_back_lendingone_charges_forward_for_landlords_with_launch_of_new_rental_property_mortgage/prweb18498795.htm
- (866) 782-3464
- United States