Investing in rental property is becoming the preferred strategy by many real estate investors, especially with rents rising across the country. On average, rents have risen between 10% and 20% over the last two years, providing positive cash flow to buy-and-hold investors. Given the current rising rate environment, we wanted to highlight some recent rental loans that our borrowers closed using our rate lock program. This program allows borrowers to lock their interest rate for 30 days, guarding it from rising rates at the cost of minimal basis points, depending on the loan type. Please note that some of the interest rates for these recently funded rental loans are no longer obtainable. Rates are rising every single week, so investors need to move their deals quickly to ensure they receive the best possible interest rate for your rental property loan.
Multi-Family 2 Rate And Term Rental Loan In Jersey City NJ
Cash Out Of Multi-Family 2 In Jersey City NJ
Cash Out Refinance Of Multi-Family 2 In Bogota NJ
Keansburg NJ Cash Out Refinance Of Hard Money Loan
Cash Out Refinance In Orange Township NJ
Our final loan highlight is for the cash out refinance for a two-unit multifamily in Orange Township NJ. The property is measured at a total 2,166 square feet with both units already having tenants in place, meaning this rental property will begin generating monthly income right away. We provided a loan amount of $897,750 with a cash out of $668,391 and total loan funded at 75% LTV. This fully amortizing 30-year rental loan was issued at 4.75% interest rate. The borrower locked their interest rate using our rate lock program at the cost of only fifteen basis points, ensuring their loan rate wouldn’t change for 30 days in exchange for a small upfront fee. This multifamily rental property is expected to bring in a gross monthly rent of $4,000.
Choosing ABL For Your New Jersey Rental Loans
Asset Based Lending is proud to offer a rate lock program on our rental loans, as well as our bridge loans for fix and flips and new construction. This rate rising environment can impact the exit strategy of real estate investors, so we try to evolve our programs to match the market and maintain the most borrower-friendly financing on the market. ABL works diligently to provide the best possible interest rates for our borrowers, ensuring that BRRRR investors receive favorable rental loans with five-star service from start to finish.
With rates starting as low as 6.75% and maximum LTV of 80%, we provide rental loans for 1-9 family properties that can be structured as 30-year amortizing, ARM, or interest-only options. Whether it’s a traditional long-term lease rental property, or you’re looking for Airbnb rental loans, our term rental program can help finance your next success. Contact us today to discuss your deal and be approved for your NJ rental loan.