Rental Property Financing in Vermont

A rental property in an ideal area — no matter a SFH, a flat, a duplex, a triplex, or a fourplex — can be quite a worthy investment decision for any real estate investor seeking to find a steady monthly income and a secure personal financial future. While a handful of individuals might be able to shell out cash to purchase their investment properties, additionally, there is the alternative to get a rental property loan in Vermont. But the problem is that it can be tricky to get approved for a bank loan when you do not possess a superb credit score or happen to be self-employed. Also, a bank loan approval process is long and time-consuming, which means a fast closing is nearly impossible. Fortunately, there are other methods for getting a mortgage loan for a rental property.

Real estate investors, who are about to buy a new investment rental property or looking to refi a current mortgage loan, always have the option to approach private lenders for a rental home loan in Vermont. Even in the event a real estate investor does not have a good credit score, he still stands a good chance to be approved for these types of short-term mortgage loans with lending rates starting out at 10%, assuming the applicant is experienced in dealing with rental homes and the property has a real potential to produce regular cash flow. Vermont rental property loans are not merely easy to be eligible for, but are additionally fast closing — meaning that you do not have to let another investment fall through your fingers because you're waiting around for a bank loan to be approved.

For example, a self-employed real estate broker in South Carolina recently contacted Island View Private Loan Fund for rental property financing to acquire a single-family home. The nature of her employment drastically lessened her possibility of qualifying for a mortgage loan from a bank, even though she maintained a great credit score and was prepared to pay 30% for the down payment. Yet she didn't want to allow this once-in-a-lifetime real estate opportunity to be squandered. When she called IVPLF, the 30% deposit and a positive rental market assessment worked out to her advantage and enabled her to obtain the money she needed to close the purchase successfully.

As a real estate investor, you can also complete a cash-out refi on one of your current houses to unlock equity in them to utilize for other purposes. To illustrate, IVPLF had this customer, a real estate investor who owned a rental home and had fully repaid the original mortgage on it. He was self-employed and in excess of thirty days past due on his credit card bills. A cash-out refi was exactly the right thing for him because it not just helped him pay down his high-interest credit card debts, but also gave him a breather from his predicament given that the rental income via the condo took care of the new mortgage payment.

You have made a nice start when you have located a good Vermont rental property mortgage lender to make a loan on your real estate venture. Enter your info into the contact form or give us a call, and let's discuss the property or properties you have in mind.