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Real Estate Loans

Purchasing non-owner occupied real estate can be a strategic investment for generating rental income and building long-term wealth. By securing a mortgage specifically designed for investment properties, you can acquire residential investment properties that you do not intend to occupy. These loans typically offer competitive rates and terms, allowing you to leverage the property’s potential for appreciation and rental income. Additionally, investment property loans often come with flexible repayment options and the ability to finance multiple properties, making it easier to expand your real estate portfolio and maximize your returns.

Refinancing non-owner occupied real estate is another powerful tool for investors looking to optimize their financial strategy. By refinancing, you can take advantage of lower interest rates, reduce monthly payments, or access the equity built up in the property through a cash-out refinance. This equity can then be reinvested into other business ventures, used to improve the property, or fund fix and flip projects, further increasing its value and rental income potential. Refinancing can also help you consolidate debt, improve cash flow, and better manage your investment portfolio, ensuring that your real estate assets continue to work effectively towards your financial goals.

Purchasing and refinancing non-owner occupied real estate can generate rental income, build long-term wealth, and optimize financial strategies through competitive loan rates, flexible repayment options, and access to equity.

Types of Non-Owner-Occupied Real Estate Purchases

Rental Loans

Rental loans are designed for properties that will be rented out to tenants. These loans focus on the property’s ability to generate rental income to cover the mortgage payments.

  • Rental Income: Lenders will assess the expected rental income to ensure it can cover the mortgage payments, property taxes, insurance, and maintenance costs.
  • Property Management: Effective property management is crucial to ensure consistent rental income and maintain the property’s condition.
  • Long-Term Investment: Rental properties are typically seen as long-term investments, providing steady cash flow and potential appreciation over time.

Fix & Flip

Fix & Flip loans are short-term loans used to purchase, renovate, and sell a property for a profit. These loans are suitable for investors looking to quickly improve and resell properties.

  • Renovation Costs: Lenders will evaluate the cost of renovations and the potential increase in property value.
  • Market Conditions: Understanding the local real estate market is essential to ensure the property can be sold quickly and at a profit.
  • Short-Term Financing: These loans often have higher interest rates and shorter terms, typically 6-12 months, reflecting the quick turnaround expected.

New Build

New build loans are used to finance the construction of new properties. These loans are suitable for investors looking to develop new real estate projects.

  • Construction Costs: Lenders will assess the total cost of construction, including materials, labor, permits, and other expenses.
  • Project Timeline: A clear and realistic construction timeline is essential to ensure the project stays on track and within budget.
  • Market Demand: Understanding the demand for new properties in the area is crucial to ensure the investment will be profitable once the construction is complete.

Multifamily

Multifamily loans are used to purchase properties with multiple units, such as duplexes, triplexes, or apartment buildings. These loans are suitable for investors looking to generate income from multiple rental units.

  • Rental Income: Lenders will evaluate the potential rental income from all units and compare it to the mortgage payment and other expenses.
  • Property Management: Managing multiple units can be more complex and may require professional property management services.
  • Economies of Scale: MultiFamily properties can offer economies of scale, as the cost per unit is often lower than for single-family homes, and maintenance costs can be spread across multiple units.

Rental Loans

Rental loans are designed for properties that will be rented out to tenants. These loans focus on the property’s ability to generate rental income to cover the mortgage payments.

  • Rental Income: Lenders will assess the expected rental income to ensure it can cover the mortgage payments, property taxes, insurance, and maintenance costs.
  • Property Management: Effective property management is crucial to ensure consistent rental income and maintain the property’s condition.
  • Long-Term Investment: Rental properties are typically seen as long-term investments, providing steady cash flow and potential appreciation over time.

Fix & Flip

Fix & Flip loans are short-term loans used to purchase, renovate, and sell a property for a profit. These loans are suitable for investors looking to quickly improve and resell properties.

  • Renovation Costs: Lenders will evaluate the cost of renovations and the potential increase in property value.
  • Market Conditions: Understanding the local real estate market is essential to ensure the property can be sold quickly and at a profit.
  • Short-Term Financing: These loans often have higher interest rates and shorter terms, typically 6-12 months, reflecting the quick turnaround expected.

New Build

New build loans are used to finance the construction of new properties. These loans are suitable for investors looking to develop new real estate projects.

  • Construction Costs: Lenders will assess the total cost of construction, including materials, labor, permits, and other expenses.
  • Project Timeline: A clear and realistic construction timeline is essential to ensure the project stays on track and within budget.
  • Market Demand: Understanding the demand for new properties in the area is crucial to ensure the investment will be profitable once the construction is complete.

Multifamily

Multifamily loans are used to purchase properties with multiple units, such as duplexes, triplexes, or apartment buildings. These loans are suitable for investors looking to generate income from multiple rental units.

  • Rental Income: Lenders will evaluate the potential rental income from all units and compare it to the mortgage payment and other expenses.
  • Property Management: Managing multiple units can be more complex and may require professional property management services.
  • Economies of Scale: MultiFamily properties can offer economies of scale, as the cost per unit is often lower than for single-family homes, and maintenance costs can be spread across multiple units.

Each type of purchase has its own unique considerations and potential benefits. It’s important to thoroughly research and understand the specific requirements and risks associated with each type before making an investment.

The information provided serves as a general guideline. We collaborate with a diverse range of lenders, each offering unique terms and benefits.

To ensure you find the best financing solution tailored to your specific needs, we recommend setting up a meeting with us to review all your options in detail.

Real Estate Loans & Refinance

  • Credit Score Minimum:  640
  • Income Minimum:  Some lenders offer asset-based loans, where meeting the income qualification is possible if the verifiable rent covers the mortgage. Other lenders might prefer a more traditional approach to income verification.
  • Debt to Income:  Varies based on lender, or may not be applicable if asset-based.
  • Application:  Our general application to start the process.  Depending on which lender ends up being the best fit, we may need to submit a lender specific application. View Application
  • Bank Statements:  Last three months.
  • Credit Report:  Three bureau with fico scores. Learn How!
  • Tax Returns:  Last two years.
  • Flexible Loan Options: Various loan products are tailored to meet the needs of real estate investors, including fix and flip loans, rental property loans, and multifamily loans.
  • Competitive Rates: Financing solutions come with competitive interest rates, helping investors maximize their returns.
  • Quick Funding: Expedited funding processes ensure that investors can access the capital needed promptly to seize investment opportunities.
  • High Loan-to-Value (LTV) Ratios: Investors can benefit from high LTV ratios, allowing them to leverage more of their property’s value.
  • Cash-Out Refinancing: This option enables investors to access the equity in their properties, providing funds for additional investments or business ventures.
  • Expert Support: Personalized support from experienced professionals is available to guide investors through the financing process.
  • Loan Amounts:  $75,000 to $50,000,000
  • Interest Rate:  Commemorative current market rates
  • Term:  Up to 30 years, depending on purchase type.  Fix & Flip loans 12-24 months.
  • Fees:  Varies from lender to lender
  • Credit Reporting: Personal Credit
  • Funding Time: Varies from lender to lender
  • Collateral Required: Property Purchased

*We strive to keep our information current, but the lending landscape changes daily, and requirements can vary between lenders. The information provided is intended as a guideline to begin the approval process. Additional information, documents, and requirements may be needed.

FAQs for Obtaining a Loan for Non-Owner-Occupied Real Estate

A non-owner-occupied mortgage is a loan designed for properties that the borrower does not intend to live in. These properties are typically used for investment purposes, such as rental properties.

Lenders will assess the property’s potential rental income and compare it to the mortgage payment, property taxes, insurance, and other expenses. This is often referred to as the debt service coverage ratio (DSCR).

While requirements can vary by lender, a higher credit score is generally needed for non-owner-occupied mortgages compared to owner-occupied ones. A minimum credit score of 640-680 is often required, but a score of 700 or higher can help secure better terms.

Non-owner-occupied mortgages typically require a larger down payment than owner-occupied loans. Expect to put down at least 20-30% of the property’s purchase price.

Yes, interest rates for non-owner-occupied mortgages are generally higher due to the increased risk associated with investment properties.

Yes, lenders often consider the potential rental income from the property when determining your eligibility for the loan. They may require a lease agreement or rental history to verify this income.

You will typically need to provide:

  • Credit report
  • Proof of down payment
  • Lease agreements or rental history (if applicable)
  • Personal financial statement

The DSCR is a measure used by lenders to determine if the property’s income will cover its debt obligations. A DSCR of 1.25 or higher is often required, meaning the property should generate 25% more income than the mortgage payment.

Yes, lenders may have stricter requirements for non-owner-occupied mortgages, including higher reserves (savings) and more stringent property inspections.

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