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Once Julie and Tim took over my two properties deal for refinance, they worked tirelessly to push everything through within 2 weeks time. Awesome experience, friendly knowledgeable people that care about helping you and your needs. Julie, Tim, and Spencer are great people to work with, thank you so much for working with me.. Truly a pleasurable experience!
Benefits of Working With Us
Program Criteria
Score and background check
$100K – $10MM+ non-owner occupied property
2 months of recent bank statements
Fix & Flip Experienced Required
States We Lend In
Property Types We Fund
AHL is an outstanding company. They actually execute on their promises. I had the pleasure of working directly with Jessica Reynolds. She is knowledgeable and efficient. It was my first time getting a rental loan and she was extremely patient with me. She was by my side every step of the way.
OUR 1099 LENDING RATES & TERMS:
| PROPERTY TYPES | Single family, condos, townhomes, multi-family 2-4 units |
| LOAN AMOUNTS | $75,000 – $2,000,000 |
| TERM | 30-Year Fixed-Rate Rental Loans with interest only options |
| LOANS AVAILABLE | Loans are available to individuals, trusts, corporations, and limited partnerships. |
Seasoned investors generate recurring monthly revenue through rental properties. Taking advantage of the best rental properties in your area requires fast access to funding to purchase the property and make the necessary repairs and capital improvements that allow you the greatest return on your investment.
American Heritage Lending’s competitive loan programs are designed so experienced investors can cut through the red tape to access the funding they need for the best rental properties. Our clients get a personalized rental property loan process that results in the certainty of closing with fewer delays and fewer hassles.
DSCR / DEBT SERVICE COVERAGE BASED PROPERTY FINANCING
Hard Money Lenders for DSCR / Debt Service Based Rental Properties
Hard money loans for a rental property are often used when the borrower needs to act quickly to secure the property. To obtain a rental property loan from a conventional lender can take months and involve mountains of paperwork. Rental property loans from hard money lenders can be approved same-day, and funding can be completed within days if needed.
Some borrowers will use hard money lenders for rental properties after being denied by conventional lenders such as banks and credit unions. Traditional lenders may deny a borrower’s loan request for various reasons, including having too many existing conventional loans, poor credit, or other negative issues on their recent record (bankruptcy, foreclosure, short sale, etc.).
When analyzing a rental property loan, hard money lenders focus primarily on the
- Value of the property and
- The borrower’s equity (down payment) in the property.
The focus on value and equity allows the hard money lender to overlook many issues which would be red flags for banks.
Rental Property Financing Requirements for DSCR Based Mortgages
Rental property financing from a hard money lender generally requires a down payment of at least 20% from the real estate investor. 100% financing is not available.
Hard money loans for a rental property are typically easy to obtain as long as the real estate investor has the necessary down payment and sufficient cash or income to cover the property’s holding costs. Rental property hard money lenders can overlook poor credit scores and items on a borrower’s record, including foreclosures, bankruptcies, short sales, loan modifications, and other issues that would prevent other lenders from providing investment loans for rental property.
Suppose the real estate investor has sufficient equity in another property but does not have enough cash for a down payment. In that case, the real estate investor may be able to take out a cash-out refinance loan to raise funds for the down payment on the new rental property purchase. The lender will also want to see that the investor has enough cash reserves to deal with potential tenant vacancies, repairs, and unforeseen issues.
Rental property loans from hard money lenders are not typically long-term loans. The most extended terms available are usually six months to 2 years terms. Hard money loans for rental properties are often amortized over 30 years, but a balloon payment will be due after the agreed-upon term. The lender will want to know the real estate investor’s intended exit strategy upfront to understand how the borrower will repay the rental property loan. The exit strategy may involve refinancing the rental property loan into a long-term conventional loan or selling the property.
WHY CHOOSE A LONG TERM DSCR RENTAL LOAN?
We understand the need to move quickly when opportunities arise. Our application, appraisal, and approval process can be accomplished in just a few days to ensure you can negotiate effectively with the property holder.
We can provide long-term financing of up to 30 years, with partial or complete amortization.
DSCR REAL ESTATE INVESTMENT LOANS
Real estate investor loans help borrowers quickly secure investment property or borrow against their own real estate. Private money real estate investment lenders such as American Heritage Lending can provide same-day approvals and financing within days. The speed of loan approval and financing allows borrowers to capitalize on short-term opportunities and use leverage to maximize their investment yield.
While banks can take 2-3 months to approve and fund a real estate investment property, private money real estate investment lenders can approve and finance within a week.
DSCR REAL ESTATE INVESTOR FINANCING
DSCR RESIDENTIAL REAL ESTATE INVESTMENT LOANS
DSCR INVESTMENT PROPERTY REFINANCE LOANS
After multiple years of a hot real estate market, real estate investors discover significant equity in their rental properties. Rental Property cash-out refinance loans are a popular way to access the equity in a property, giving an opportunity to invest the capital into other projects.