ZINC Financial is pleased to announce the launch of our new Apartment Buy & Hold Loan Program. The program is meant to help investors make the most of their rental real estate investing portfolio. In the current climate, investing in rental property is a low-risk, high-reward choice, and this new loan program will help more of our clients take advantage of buy and hold opportunities.
GoBankingRates.com recently found that it is more affordable to buy than rent in 42 US states, including California (read the press release here). Rent prices continue to rise across the country whereas interest rates on new home loans are at near-historic lows. And yet, more people are choosing to rent than to buy.
Part of this is due to the fact that home prices are currently quite high, making the initial down payment too much of a hurdle for many potential buyers. Another reason is that Millennials are making up a large portion of the potential buying market, and many Millennials who can afford to buy are choosing to rent instead, both so that they can live in more metropolitan areas and so that they can have flexibility in their housing arrangement. With so many people getting married and having kids substantially later in life than in generations past, the drive to buy is lower.
All of this is great news for buy and hold real estate. Investors can take advantage of the strength of the housing market and the strength of the rental market at the same time, earning monthly income from renters while watching the value of their property go up at the same time.
With our new Apartment Buy and Hold loans, investors can take out loans on properties with as many as 150 units. Loans are available in amounts up to $10,000,000, and rates start at just 6.99%. The loan to value ratio can be up to 75% of the purchase price, and the loan term can be up to 60 months.
To learn more about our new apartment flipping loans, or to discuss a property you have your eye on, give our experts a call at (559) 326-2509.