Mortgage loans for investor are my specialty. I have developed
extensive knowledge of the underwriting requirements of mortgage loans for
experienced investors, there are depreciation and expense treatment methods
which improve your ratios. For new investors, there are
programs allowing investment in real estate with lower down payment requirements.
Mortgage loans for investors fall into two categories: Fannie & Freddie
and our Investor Specialty Programs.
Mortgage loans for investment property sold to Fannie Mae or
Freddie Mac require a down payment ranging from 10% to 25% with a delivery fee
ranging from 1.5 to 3 points. Please understand that these fees are imposed by
Fannie and Freddie and are not charges from either your lender or your broker.
However, the fee allows
using conventional rates and loan limits. These conforming loans are available
as either fixed rate or an ARM. Even with the delivery
fees, these loans can be a good choice if your goals are to maximize cash flow
and you plan to hold the property for a 3 to 5 year period. Ratios are normally
28/36, but with automated underwriting, Excellent credit and some liquid
reserves, it is not uncommon to see back ratios in the middle 40s. Rental income is decreased by a 25% vacancy factor but there are
methods which eliminates this issue for experienced investors.
The Investor Loan Specialty program (actually a growing group of
investor loan programs) allows purchase
or refinances with only 5%
equity. The program allows up to 20 properties plus your home. Available up to
$1,000,000 and 2-4 unit properties are acceptable. Ratios are generally 34/40
Documentation mortgage loans for investors are available. Available as a fixed or adjustable rate
in many reduced down payment scenarios..
mortgage loans for investors is now available with fairly reasonable rates. These programs have been
available for a while, but at extremely high rates compared to market rates. We
finally have a source of financing that will allow you to acquire property with
limited out of pocket costs.
I have investor loans based on the LIBOR
Index. The LIBOR (London Interbank Offered Rate) Index is more stable than the
COFI index (Cost of Funds Index). Comparison charts between the COFI, LIBOR
and MTA indexes are available. One feature of the program is four repayment options. You
can decide to amortize the loan for 30 or 15 years, a minimum amount, or interest only. You
can choose every month and have the flexibility
to manage cash flow as never before!
Please Note: Due to continuing heavy volumes of purchase and
refinance business, all of my investor appropriate lenders have found it
necessary to impose minimum loan amounts. Unfortunately, I will not be able to
assist you if your loan amount is below $100,000. Please understand that this is
not a minimum imposed by either Carteret Mortgage or my branch but by the
lenders we work with. Hopefully, this situation will be resolved soon.
As a Certified Mortgage
Planning Specialist, I offer an analysis of
your situation today can make suggestions on how small changes in how
your consumer and mortgage debt is structured today can have a life changing effect in the years
to come. Read more
about this free, no obligation service.