Do Hard Money Lenders offer 30-Year Rental Property Loans?
Rental Property Loans For Long Term Investors
We are proud to be one of the only hard money lenders in the region that can offer investors 30-year rental property loans. For example, we just closed a permanent loan for a borrower in need of a hard money loan in Massachusetts. The borrower only needed purchase financing for a 2-unit rental property. The property had already been renovated and had tenants in place. The borrower didn’t want or need the industry standard 12-month hard money loan as a bridge to permanent financing. However, he did need a quick close and a borrower friendly program that didn’t require tax returns or income verification. We were able to lock the borrower into a low fixed rate financing at 80% of the purchase price. We saved the borrower thousands, not just in terms of interest and points, but also by having just 1 closing.
As a direct hard money lender, we are in complete control of the underwriting and processing of our rental property loan program. We work directly with the borrower to customize their financing needs with the flexibility and efficiency hard money loan borrowers expect. We can structure 1-4 unit rental property loans with 30 year amortization, ARM, or interest only options. Depending on credit, DSCR, and leverage, our 1-4 unit rental loan rates start as low as 3.75%. We offer cash out refi’s up to 75% LTV and purchase financing up to 80%. Our maximum loan is $3M for single rental property loan, but we can provide portfolio loans up to $6.25M. These rental property loans are “doc-light” and are available for inexperienced investors.