Get Creative! Financing Options for Real Estate Investors
Finding financing to buy a rental property can sometimes be tricky. Especially if you want to buy a property that needs repair, you have a complicated scenario, or you want to use the equity from other properties you own to complete the purchase. The great news is that there are creative loan options available from Finance Factors to help you expand your real estate portfolio!
Properties that need repair.
Many times buying a property that needs repair is challenging because in order to get traditional financing the property needs to be in good condition. So unless you are able to pay cash for the property, you may think that buying it is out of reach. However, that might not be the case! Finance Factors provides solutions for financing properties that need repairs, including properties where the plan is to tear down the existing home and rebuild. Our programs provide real estate investors with powerful tools that can help them buy properties that may increase tremendously in value after repairs.
Are you a savvy real estate investor with complicated financials? Or are you dealing with a property that has unusual zoning, is non-conforming or has an unusual title situation? Finance Factors knows how to address these situations. Having a lending partner that is experienced in dealing with unusual scenarios can help you reach your real estate goals. At Finance Factors our “common sense” approach to underwriting allows us to consider a variety of scenarios to come up with creative solutions that fit your needs.
Combining equity from more than one property.
For real estate investors with equity in multiple properties, the ability to combine that equity into one loan can help you maximize the equity in your properties. At Finance Factors our expertise in multiple collateral lending is unmatched in Hawaii. A multiple collateral loan is a single loan secured by more than one property. Here are a few ways a multiple collateral loan could help you:
• Use the equity from one or more properties to purchase a new property with no down payment.
• Maximize your cash-out by leveraging the equity in multiple properties with just one loan.
• Act quickly to buy a property before selling an existing property with our “bridge” loan. Reverse 1031 exchanges ok!
• Help your child purchase a home using the equity in your property.
Finance Factors has been helping Hawaii’s people for over 65 years. We’re committed to:
• Providing personalized service.
Our experienced loan officers are here to listen to your story and help you find the right loan solution to meet your needs.
• Getting you the best possible program.
From adjustable rate mortgages to loans securing more than one property, we offer a wide array of loan programs to meet a variety of needs. In addition, rates on our traditional 30-year fixed mortgages are among the lowest in Hawaii! Compare our interest rates in the Mortgage Lending Leaders box on this page.
• Providing a convenient, easy mortgage experience.
Tools such as our Finance Factors Mortgage App will provide you helpful checklists and automatic updates as your loan progresses so that you and your Realtor always know what’s expected and where your mortgage is in the process. Contact us in the way that fits your lifestyle. Use our mobile app, visit our website, call us, or visit any one of our 13 branches. It’s completely up to you.
Call us today at 548-3300 on Oahu or toll-free at 1-800-648-7136 to speak to one of our helpful, experienced loan officers or visit us at www.FinanceFactors.com.
This article is for informational purposes only. It does not constitute an offer to make a loan. Any loan and the terms thereof are subject to Finance Factors’ underwriting approval. The information stated herein are estimates calculated based on the loan programs currently offered by us. All of this information is subject to change without notice. Actual loan qualification requirements will be based on the specific underwriting guidelines applicable to each loan program at the time of application. Other terms and restrictions may apply.