Long Term Rental
Long Term Rental Loans
Another key feature of long term rental loans is that they typically have more flexible qualification requirements than traditional mortgages. This is because the loan is secured by the rental income that the property is expected to generate, rather than by the borrower's personal credit history. As a result, borrowers who may not qualify for a traditional mortgage due to factors such as a low credit score or high debt-to-income ratio may still be able to obtain a long term rental loan.
One potential drawback of long term rental loans is that they may come with higher interest rates than traditional mortgages. This is because these loans are considered to be riskier by lenders, due to the fact that the borrower is relying on the rental income from the property to make the loan payments. However, for borrowers who are able to qualify for a long term rental loan, the higher loan amounts and more flexible qualification standards can make them a good option.
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States We Lend In
Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.