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Mortgage Loans for Investors
Mortgage loans for investor are my specialty. I have developed extensive knowledge of the underwriting requirements of mortgage loans for investors. 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.
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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 underwriting 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 and No Documentation mortgage loans for investors are available. Available as a fixed or adjustable rate in many reduced down payment scenarios.. 100% 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.
I have a page on how to calculate your mortgage loans for investors qualification ratios.
I have a page on mortgage loans for investors documentation requirements.
Limited and No Documentation mortgages are now available for investment properties.
If your interest is in foreclosure property as a real estate investment, visit my foreclosure page for information and links to property resources.
If you are looking at foreclosure property as an investment, I have a free report available by email. Request a Good Faith Estimate before you apply.
Here are my thoughts on the difficulty of "flipping" investor properties.
For the the greatest flexibility and maximum loan qualifying ratios, you may be interested in the Cash Flow ARM. This may be the very best option for an investor.
New! I have added a page on how to properly compare different investment property that may be helpful to you
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.
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loans for Investors