At LendSure, we specialize in financing investment properties.
We know from experience that traditional lenders view many of these borrowers as square pegs who don’t fit their highly regimented underwriting holes.
When you’re looking for financing for investors, the variety of scenarios can be endless. Loan Officers that work with LendSure have access to a wide range of products – including bank-statement loans, investor cash flow (DSCR) loans and full doc loans – that can help you overcome the obstacles and say “yes” in nearly any situation.
Here are a few examples of tough-to-finance borrowers, and how we got the deal done.
Scenario: The experienced investor who reports a monthly net loss.
Solution: Full Doc Income Documentation. LendSure Rental Income Calculation for Lower DTIs and Lower Rates
Roger and Stacy own their primary residence and a portfolio of seven investment properties with a total value of $3.2 million. They want to buy an eighth property, but there is a wrinkle: their net loss on their portfolio amounts to $2,348 a month.
If Roger and Stacy take a loan backed by Fannie Mae, they’d be required to add the monthly net loss to their total monthly debt. However, LendSure allows them to subtract the amount from their total income. As a result, LendSure calculates a lower debt-to-income ratio, which results in a lower interest rate and a closed loan.
Scenario: The investor who wants to leverage her existing portfolio.
Solution: Investor Cash Flow Loan (DSCR) Cash Out Refinance
Mary recently retired and is counting on income from her investment property valued at $470,000. She’d like to cash out some of her equity from that property to buy an additional rental home.
Mary’s rental income is $2,800 a month, which results in a DSCR ratio of 1.25%. Based on those numbers, LendSure approved Mary for a cash-out refinance that netted her $100,000. Mary uses the cash-out proceeds to buy a new investment property that generates additional income.
Scenario: Foreign national who wants to buy a condo
Solution: LendSure’s Foreign National Non-Warrantable Condo Loan
Amir is a long-haul pilot who lives in Qatar. Weary of staying in hotels, he wants to buy a condo in Miami where he can stay. He also wants to rent out the unit when he’s not in town.
LendSure structured a loan under its foreign national program. Amir quickly closed on the loan and is generating positive cash flow. Now he’s shopping for another condo on the West Coast.
It’s important to note that LendSure relies on commonsense underwriting when financing investment properties and analyzing loan applications from foreign nationals. We accept foreign credit reports and income verification letters, and we allow borrowers to use foreign assets to meet reserve requirements.
Even as the housing market poses affordability challenges and mortgage rates are rising, there are still opportunities for real estate investors. With home values increasing, many investors are shying away from the current market, but with our comprehensive loan offerings, it is actually a wonderful time to enter.
We want to ensure the success of our mortgage broker partners
At LendSure, we specialize in non-QM, and we’re here to help you. Our highly experienced loan management team knows the non-traditional mortgage process inside and out. Working extensively with bank statement loans and many other types of non-QM loans, LendSure lends in almost all states and is continually expanding its presence throughout the United States. We guide mortgage professionals like you through the non-QM loan process, ensuring the right product fit for each client.
At LendSure, we know not all loans are traditional loans that follow a simple, cookie-cutter process. We empower our network of partner mortgage brokers to offer customized solutions to borrowers of any type. With ongoing education, matchless support, a commonsense approach to the numbers and a careful look at the details, LendSure guides brokers through the sometimes-confusing world of non-QM loans.
Non-QM products don’t have to be complicated when you work with the right partner. Non-QM loan qualification may take a few extra steps, but LendSure guides brokers like you through each step of the process. We know you’re working fast and furious and always looking to grow your business, but sometimes a little help is needed. Whether you need guidance on financing investment properties, assistance working through the non-QM loan process, help with investment property loans or are simply looking to expand your product offerings, LendSure can help. We’ll help you say “yes” to more clients, flesh out marketing opportunities, expand your business and grow your bottom line.
The LendSure Way
It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are numbers and ratios and data to consider, but we know that behind every file, there’s an individual with a unique circumstance seeking a loan. We work hard to offer our commonsense take on lending to borrowers seeking funding for the home of their dreams, another addition to their investment property portfolio or refinancing of a currently owned property.
Are you ready to grow your business? Conforming loan approval guidelines can be restrictive, but we want to offer our mortgage broker partners the education, the tools, support and the guidance they need in order to say “yes” to more of their clients. This ensures happy borrowers and opportunities for bottom line growth. What are you waiting for? Let’s get started!
Are you ready to benefit from a commonsense approach to lending? Contact us today to learn more about non-QM loans and how partnering with LendSure Mortgage Corp. can help grow your bottom line.
