Good news for the high volume investors!
We are currently working with several Lenders/Financial Institutions, who are willing to Lend on rental portfolios in Detroit Michigan for both Domestic & International Investors.
No Credit History or Credit score is required as these are "Asset based" lends on not based on the Borrower. And they are Non-recourse Loans.
The rates are higher than your BoA, Wells Fargo, JP Chase as they are Private FIs/Funds. Image below and is from a nation wide lending program.
We are also currently working with another MI based Hedge Fund Lender, who can offer:
- Minimum Loan Amount of 150K with a lower 40K minimum value per property.
- DSCR rate required is 1.10 - 1.20
- Only performing Assets
- Rates are in the mid 6% ish
- LTV ranges between 65 - 75%
(Kind note - please remember that the higher the LTV higher the IR %)
For those investors who are eligible and seeking to Leverage in a rising market, lets connect and discuss/evaluate the next steps to this process!