Investor Loan Programs

June 3, 2016

 

We have numerous loan programs that are available to investors, both for purchasing new investment property, and also to refinance currently owned properties.  While we strive to keep these options updated, if you don’t see a program mentioned here, that doesn’t mean it’s not available.  Please ask!  As a broker, we have access to dozens of different lenders that are constantly adding and updating loan options.

Please Note:  The options described on this page are for investors who are NOT living at the property.  If you are starting your investment career with a multi-family home (2-4 units) that you plan to occupy, please visit our Purchase Loan Options page to view our loans for home buyers and home owners who will be personally residing in the property, as down payment requirements do vary based on who will be occupying the home (owners or tenants).

All property values and down payment requirements for purchase will be determined by a current appraisal of the property.  Down payments and maximum amounts borrowed are subject to credit approval.

 

Conventional Purchase Loans

Purchase a Single Family Home – 15% Down

Purchase 2-4 Units – 25% Down

 

Rate and Term Refinance Loans

Refinance to Lower Your Rate or Term for a Single Family Home, Duplex, Triplex, or Quadplex – Can borrow up to 75% of property value.*

*If your current loan was originally taken out before June 1, 2009, please contact us.  You may be able to refinance regardless of current property values.

 

Cash Out Refinance

Refinance to take out cash by borrowing against your equity, or to pay off lines of credit – Borrow up to 75% of property value for single family homes, or 70% of value for 2-4 units.

Learn more about cash out refinances.

 

Renovation Loans

The Fannie Mae HomeStyle® Renovation Mortgage option provides a convenient and economical way for borrowers considering moderate home improvements to make repairs and renovations with a single-close first mortgage.

The Fannie Mae HomeStyle® Renovation Mortgage enables borrowers to purchase a home that needs repairs, or refinance their existing home and include the necessary funds for renovation in the loan balance. The loan amount is based on the “as-completed” value of the home. There are no required improvements or a minimum dollar amount for the repairs. Repairs or improvements, however, must be permanently affixed to the real property and add value to the property.  This loan is available for investors on single family homes, condos, and PUDs only.