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Real estate investor borrower Profile look likes?

Real estate investor: Any borrower buying their first investment property or a seasoned investor growing their real estate portfolio who are experienced in purchasing, renting, and managing rental properties. The majority of these borrowers are familiar with up-to-date market conditions, real estate trends and have already closed loans for multiple properties. They are not always familiar with alternative loan solutions when an Agency loan is not an option. Fannie Mae has tightened guidelines for second homes and investment loans making it harder to qualify. Competition is fierce in the market today, and many investors cannot afford a delay in closing.  They need to move fast requiring an easy loan solution for a quick close. They are qualified based on a debt service coverage ratio, FICO and LTV.

These buyers are purchasing based on an anticipated return on their investment and /or new stream of income.

Premier Home Financing work with real estate investor borrowers every day providing solutions that get to the closing table quickly. Why would they require non-QM to qualify for a mortgage?

Depending on the borrower’s unique situation, they may not have the employment or tax documentation to qualify for an Agency loan. As mentioned, Fannie Mae has tightened guidelines for second home and investment loans.  Other situations include limits on the total number of properties, non-warrantable condos, and if rental property is held under an LLC.

The easiest solution can be a cash flow loan such as Premier Home Financing Investor Cash Flow loan. This loan is based on a rental analysis to determine cash flow and does not require employment or tax information. It is easy to do and quick to close working with us.

Originators who close these loans with Premier Home Financing know to call us first to ensure a quick close without delays. Our account Loan Officers are experts – the Investor Cash Flow loan is one of our most highly utilized options. What are non-QM mortgage options for real estate investors?

• Investor Cash Flow– Qualification based on property cash flow with a minimum DSCR of 1.0. No DSCR needed with minimum FICO of 700 and maximum LTV of 75%. No income or employment information required. This loan is for non-owner occupied investment properties.
• Warrantable and Non-Warrantable Condos – Investor Cash Flow and full doc Portfolio Select mortgage loans allow warrantable or non-warrantable condos.
• Non-Owner Occupied, Second Homes, Investment Properties – Full doc Portfolio Select, Bank Statement, Platinum Jumbo