BUY FOR RENT / INVESTMENT PROPERTIES

Let us jump right into it! NO INCOME CHECK! It does sound great, doesn’t it!

This means you can buy any houses for rent and we don’t require your tax returns at all. Let’s take a look deeper below:

TWO CONDITIONS:

  1. YOU HAVE AT LEAST 25% DOWN (plus closing cost, prepaid one-year tax and insurance and 6-month reserve)
  1. CREDIT SCRORE & RATE:
  • If your credit 660 min (with 3 24-month credit/payment lines in your credit report), you may be qualified for rate from 4.80%.
  • If you credit from 600-659, you may be qualified for rate from 7%.

LOAN INFORMATION:

  • Investment Property Loan
  • Property type: SFH, Condo, Townhouse, 1-4 Multi family
  • LTV up to 80% (We can do purchase, cash-out and refinance as well)
  • Interest rate from 4.80% -7%
  • 1-30-year term (we do have short term & long term programs)
  • Property value from $125,000 up
  • Loan amount min $100,000 to $3,000,000
  • Appraisal (you pay upfront fee)
  • 30 days to close (or we need 10 days after we receive appraisal report)
  • We may use the same appraisal report that you may have with your previous lender (in 30 days) if our underwriter approves
  • Down payment can be in your act in 30 days at least
  • You can pick your title company
  • Not limited to how many properties
  • No pre-payment penalty after the first five years
  • Pre-payment penalty in first five years (5% to 1%, reduce 1% each year)
  • There are some states we require to put properties under LLC, not individual
  • This program is available in 45 states in US. With other states, we may require more down payment and higher interest rate due to the risk: rent market, location, area,borrowers…

HOW YOU GET BETTER RATES WITH US:

  • You put more than 35% for down payment. The less risk we take, the cheaper you get.
  • Your credit score from 740 up. This means you are faithful to your payments and manager your finance well.
  • You have a great property. New, nice, great location, growing area, high rent market.
  • You are an experienced investor. You own properties, you know what you do and you have a plan to use our money as a leverage to own a lot more is a plus to us.

We can have a pre-approval letter in 24 hours or less.

We can have a soft offer in a term sheet where rates, costs, monthly payments and total cash to closing from you when you complete our loan application with very detailed and correct information of: Property address, purchase price, property tax, insurance, HOA, rent…

Whenever you are ready to apply this loan with us, please email us:

  1. Property address and property information
  2. A copy of your Driver License
  3. The last two months of your bank statements
  4. Fund proof (shows us you got at least 25% in your acts)
  5. Loan application (we will email you)

Please send the documents to Funding@KhangLending.com

We will give you a call when we receive everything we need to send you a quote.

For any other financing requests that are not listed here, we would like to discuss with you and will find a way to help.

We can be reached at (254) 292-9764, M-F, 9am – 4p.m.

KHANG LENDING