Purchase, refinance, renovate, or cash-out.
UNLIMITED FINANCED PROPERTIES
Unlike most lenders who are unable to provide loans to investors that have more than 10 financed properties, our Home Point Investor Programs can provide purchase, rate and term, and cash-out transactions regardless of the number of investment properties currently being financed.
LOANS BASED ON INCOME OF THE PROPERTY
When a borrower applies for a bank loan to purchase an investment property, the bank will typically utilize a portion of the future rents as income for qualification purposes. The bank will also consider the monthly debt obligations of the borrower in order to calculate a Debt-to-Income Ratio (DTI).
These traditional bank loans are designed to benefit an investor’s initial purchases. As an investor acquires more property and in turn utilizes the expenses of those properties as tax shelters, it unfortunately becomes increasingly difficult for future acquisitions to fit within the traditional, or “QM” investor products.
We offer programs designed for the residential property investor that are designed to qualify the loan on the property based on the rents received from the property the loan without requiring a DTI. These programs can be used for the purchase, refinance, or cash-out of an investment property.
CONDOS WITH UNDER 51% OWNER-OCCUPANCY
An investor looking to purchase a condo in a complex that has less than 51% owner-occupancy rate is considered “unwarrantable,” and is therefore ineligible for Fannie Mae or Freddie Mac financing. And even though owner-occupied or second home financing is widely available, a condo designated as non-owner will typically have to rely on cash or private financing.
We’re excited to offer programs that provide non-owner financing on condos that have owner-occupancy rates as low as 35%.
