Rental Finance Rates 3.875% 30 year long term rates
Rental Finance Rates continue to Drop for Single Family Residential Rental Investors.
This is an update on what we are working on right now…. June 9, 2021 at Bizfundfinder.com and Foresight Business Funding.
Commercial Single Family Rental Refinance Rates and Rental Purchase Rates are hitting the low of 3.875% 30 year term, for purchase and refinancing.
SFR Rental Finance Rates are 4.125% if you want to take cash out of your properties.
BizFundFinder is refinancing rental portfolios at 3.875% for qualified lenders.
See the below chart for general rental refinance rates and terms*
Prudent real estate investors are refinancing their rentals and locking in these rates for 30 years. They aren’t doing this so they won’t have to worry about how all the spending in Washington might affect inflation and bond rates once the economy bounces back from the pandemic.
If you’re a real estate investor looking for financing on rental properties or fix and flip financing, prefer quick funding from private money lenders, we believe we have some of the best rates in the lending market.
We are seeing rates in the 3.875+% range. 30 year terms. Up to 60% LTV starting at the 3.875% rate. 80% LTV will be a little higher.
For those who are buying and rehabbing, we have a very competitive Fix and Flip program in the mid 7’s, as well. these rates about 1% less than they were last month.
Our Rates have moved down, but as you can see from the chart below, interest rates on the 30 yr. fixed rate mortgage, are actually moving up.
We believe if you are planning to hold your rental properties for the long term, it is a very good time to lock in long term rates.
We have several close relationships with private lenders, who have funded billions of dollars of rental loans, have very good underwriting, rates in the fours, 30 year terms and they also have a very competitive Fix and Flip program as well.
Commercial Single Family Residential Real Estate
Generally, these will apply to single family, 1-4 unit properties, multifamily, and mix use type properties up to $5 million, in June of 2021.
Portfolio and Multicollateral loans from $300,000 to $20million.
Our process works like this…
Typically we will get you a term/offer sheet in a couple hours, and will get you funded in 10 days, after the appraisal all your documentation and information has been received.
LTV’s- up to 80% LTV for new Rental Purchase
80% LTV on a cash out
If you want really good rates, quick funding, you will likely need 680 or higher FICO score.
Purchase price for rentals for these rates is a $100,000 minimum purchase price.
Market value for refinance $110,000
If you prefer to purchase properties less than this, we have lenders with very competitive rates, but you typically pay .25% rate premium.
The rates and fees will be determined by your experience your credit score your credit history the type of the project and size
We run our firm as a hybrid between the online lender and local mortgage broker. We personally will discuss your deal and help find the best lender to fit your situation. The process is quick, primarily online unless you prefer paper.
You get consulting + speed. The pricing to you is the same.
We have a large network of lenders but for most investors and most deals, our preferred lenders are some of the largest in the country, that fund very quick. far underwriting, no messing around,
Fair terms you can do that with a personal phone call the application could be online or on paper
Rental Finance June 2021 Update
Rates starting at 3.875% for well qualified investors 30 year terms
LTV 80% on Rental Property Purchase and Standard Refi
75% Cash Out Refi
Experience needed: one successful rental going in the past 2 years
Minimum $75,000 loan minimum
Credit Score 680+ for best terms, 650 for good terms
Time Expectations: Term/offer sheet typically within 2 hours. Funding in 7 to 10 Business Days after all docs and appraisal received.
Our direct number is 317-589-0118 or schedule a call
Documents we need for rental financing
- Most recent bank statement
- List of your current properties you own
- (REO schedule)
- One tax your tax return
- Sales contract
- Entity documentation
- Driver’s license
Rental Loan Base Rates*
Please Note: These are base rates and for illustration 2-10-2021. Additional rates are charged for items like cash out, loan size and other factors. Please contact us for the best rates for your situation.
Fix and Flip investors June 2021 Rental Finance Updates
- Up to 90% financing towards the purchase price, 100% financing on repairs, capped at 75% of the ARV with a floor rate of 7.25% for qualified Borrowers.
- Experience: 1 flip in the past 2 yrs or own at least 2 rental properties.
- Minimum purchase price for a bridge loan (fix and flip) is $75K.
- Both the purchase and repair costs for a min net loan of $75k.
- We also offer portfolio (recourse and non-recourse) rental refinance loans.
- Rates and fees determined by experience, credit worthiness, project type and size.
Apply for great Commercial Real Estate Rental Finance Terms Through BizFundFinder
Receive an offer sheet in about 2 hours.
Funding within 7 to 10 days
after appraisal and all documentation is received.
To Recap Rental Refinance Rates and Financing for rentals June 2021 Update
Bridge Funding Rates Mid 7’s on Bridge Loan for well qualified investors
My number my direct number is 317-589-0118 or contact us.
The documents we need for fix and flip:
- Most recent bank statement
- list of your current properties
- (REO schedule)
- one tax your tax return
- sales contract
- Construction Budget (if a fix and flip)
- entity documentation
- driver’s license
We also have portfolio recourse and non-recourse Rental refinance loan on $300,000 to $10 million portfolios
Give us a call we’ll take a look what you got will give you a quote within a couple hours.
If you have other real estate scenarios such as rural, own occupied etc, feel free to contact us. We have several SBA lenders and USDA lenders as well.
If you have questions, have a property working on now, and you would like to run the deal by us, give us a call. We can get a term sheet typically in a couple hours on a “normal” scenario.
Our process is typically,
- We speak on phone to see if we can help
- We send an online invitation for you to apply and upload your docs through a secure portal ( paper app available)
- Typically takes less than two hours to get you a term sheet from our preferred lenders