Newfi offers business purpose loans for investment properties!
Newfi’s Business Purpose Loan can be used to finance investment properties only – using the debt service (rents vs carrying cost) of the property vs the borrower’s personal income. Commercial financing underwriting philosophy in a residential world – making it a great hard money replacement
How does Newfi make it easier for investors to qualify?
- You keep your investments separate from your personal income – our underwriters don’t review personal income
- You hold investment properties for investment purposes, Newfi agrees and consider the cash flow of this property to qualify for financing
- No income documentation of borrower just debt service of property- qualify solely on the cash flow of property
Purchase of investment properties
- Only 20% down payment
- Buyers do not need to be experienced landlords
- No tenant, no problem – rental survey prepared by appraiser allow us to use fair market rents
- Unlimited number of properties owned
- No Debt to Income ratio considered for financing
- Make sense underwriting – qualifying the investment properties on their merit
- Simple interest payments are available
- Close quickly
Refinance of Investment Properties
- Is your investment portfolio gridlocked – We have options
- Increase rental profits by reducing monthly mortgage expenses
- Reduce your monthly mortgage expense and increase cash flow
- Access cash without selling your real estate properties
- Use cash to help increase the value of your home with improvements or repairs
- Take advantage of Interest-Only options – to increase cash flow
Take Cash Out of Investment properties
- Vacant Properties are fine (no tenant, no problem)
- Free up equity for investment
- Hard money replacement
- Investors can use strong equity growth
- Many investors are taking cash out of current properties to build their portfolio
- Access your equity large cash out up to 75% of the value
- Get cash quickly
Frequently Asked Questions
How does this program help with cash-flow?
- Investors can often lower payment to help vs utilizing higher interest rates and cost hard money options
- Take advantage of simple interest options – to lower carrying costs
- With 30-year fixed programs, you can calculate cash for years to come
What if there is no current renter in the property- can I use rents to qualify?
- No tenant – no problem
- Newfi uses a rental survey to utilize fair market rents to the property
What if I have been turned down for credit on my investment properties before?
- No DTI calculation required
- FICO as Low as 640 Acceptable
- No limit of financed properties held in REO
- Should be 25% in both cases Purchase and turned down for credit bullets
- Higher limits of cash out from investment properties
- Simple interest payments can be used for calculation
- Versatility of simple interest option- with the peace of mind of a fixed rate mortgage
Why trust Newfi Lending with your investment property refinancing?
Newfi is a direct lender with years of experience in mortgage refinance. We offer a wide variety of investment property loans for different borrower types, and we can work with you to find a solution for your situation. Give us a call at (888) 316-3934 and see just how helpful we are!