What is a Residential Investment Property Loan?
Residential investment property loans are mortgage loans for properties with 1-4 units. A mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac — OR — may be based on property Debt-Service Coverage. It may have either a fixed or adjustable rate or be interest only. There might be a pre-payment penalty. Columbia Home Mortgage offers residential investment property loans in Portland, all of Multnomah County, or anywhere else in Oregon. Contact Ron for more information at (971) 219-0856.
Why should I use a Residential Investment Property Loan?
Qualified borrowers may be determined by credit history, bank reserves, debt to income ratio, and income OR by property Debt-Service Coverage. Contact Ron at (971) 219-0856 with details about your property’s rent and other factors to determine what will work best for you.
Residential Investment Property Loan Requirements
Lenders have several requirements for successful underwriting of residential investment property loans. These may include sufficient borrower income, assets for reserves, and credit scores OR rent/cash flow based Debt-Service Coverage Ratio (DSCR). Property condition and liens, property function, location, construction method, employment and credit history may be other determining factors. Ron will communicate with you before your loan is submitted to avoid loan delays later in the process.
Work with a Qualified Mortgage Lender
Ron Burian is committed to helping his clients with all of their qualifying Residential Investment Property Loan needs in Portland, Multnomah County, or anywhere else in Oregon. If you are purchasing a property for the first time or are looking to refinance your existing loan for cash out and/or a lower payment, Ron can help. Contact him today at (971) 219-0856. for any questions you may have on Residential Investment Property Loans or how to get pre-approved!