Investment Property Loans

One of the lenders that I work with for Non-Owner Occupied rental property loans offers these unique loan aspects on 1-4 units:

1. No prepayment penalties
2. Up to 5 properties loaned on by the bank
3. Borrower can have up to 15 residential loans (commercial loans not counted)
4. Cash out loans up to 10 financed properties
5. Can use rental income for subject property with no history of managing a rental
6. Interest only payments
7. Investment property loans up to $2,500,000
8. Recoup funds from all-cash purchases as Rate & Term refinance up to 6 months
9. Full documentation & Alternative doc loans to qualify

Let me know if you are looking for new or refinance loans for your rental properties. I have great sources for best rate or alternative financing options as needed.

Loans for Investment Properties

There are many restrictions to financing a rental property - including the following:

Having more than 4 mortgages or more than 10 mortgages
Cash out over 4 mortgages
Cash out over 10 mortgages has a different level of restrictions
Purchasing an investment home over 4 mortgages affects amount of down payment
Loans over the conforming rate limit $417,000 or $625,500 in certain areas of California
Residential / commercial mixed use properties
Properties with 5+ residential units
Rental condos in buildings with a high renter ratio
Down payments fluctuate depending on all of the above scenarios.
FICO levels affect all of the above in cost and rate.

For help understanding the best financing available for your currnet home or investement proprty, please give me a call.

Mario Pinedo
Banc of California
Cell 415-269-6249
Office 949-381-2901
NMLS 1029116

All Cash Investor Buyers Can Finance After Close of Escrow

Many investors or home buyers are paying all cash to buy a condo, house or multi-unit property in order to win multiple offer situations, foreclosures or short sales. Placing a loan on the property after close of escrow may be a good way to recoup funds for use elsewhere. If a loan to pull money out of the property is done within 6 month of acquisition, then standard refinance rules apply. This method avoids the more costly cash-out loans.  Let's talk about this strategy in detail before your time frame is up.