Our Casual Investor Loan program is designed to assist families and individuals who want to own and manage rental properties to generate personal income and create wealth.  We finance non-owner occupied residential rental homes with a longer amortization period than most lenders. This increases cash flow and profitability to the owner. The Casual Investor may own up to a maximum of 6 total rental homes (or units) and qualify for our program. For example, financing of a Duplex home in our Casual Investor program would count as two units.

A Casual Investor Loan may be used for a rental home purchase, refinance of an existing rental home loan from another lender, cash out equity, or even renovations. If the rental home that you would like to purchase needs a little work such as a kitchen remodel, new paint and flooring, or replacement windows, then the Casual Investor Purchase/Rehab loan product is for you. A general description of terms is shown in the table below:

CASUAL INVESTOR LOAN
15 Year Maturity 30 Year Amortization
Fixed Interest Rate 1-4 Single Family Residence
85% Maximum Loan-to-Value LTV based on the lesser of Purchase Price or Appraised Value
Loan Origination Fee of 1.00% of loan amount; minimum $100.00 Escrow for taxes & insurance is required for all residential mortgages in first lien position
Single Family/Townhome/Duplex/Condo/Small Multi-Unit  – All Qualify for Casual Investor No manufactured housing
First Lien Only Maximum Loan Amount of $499,999
Purchase/Rehab – Loan Amount can be a Maximum of 85% of Purchase Price (15% down-payment required) + a Maximum of 100% of Rehabilitation costs, as long as the total Loan Amount does not exceed 85% of “As Complete” Appraised Value.

Contact one of our lenders today to learn more!

Please note – This program is not available to commercial real estate developers or investors.

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