Wednesday, May 29, 2013

6 Unit Japantown San Jose Apartment Building for Sale

We just saw a very well maintained 6 unit building on a great street in the Japantown area of San Jose for sale. This very well maintained building is fully occupied and has been a very stable asset. Paired with outstanding long term interest rates, this property will provide cash flow and stability for years to come. This is an excellent area of Silicon Valley and the Bay Area for an apartment building purchase. For more details, please call today.

Tuesday, May 28, 2013

Maximum Number of Loans for Rental Homes Now Up to 20

The lending world is opening its doors up to investors who want to purchase single family homes as investment properties in greater numbers. (This applies to other 1- 4 units rental properties too - condos, townhouses, PUDs, duplexes and fourplexes.)
In 2007 it was impossible to find a lender that would loan to an investor with more than 4 investment property loans in his portfolio.  A few years ago, select mainstream lenders lenders bumped the number to 10 loans per investor.  Finally there is at least one lender who will allow 20 loans in a portfolio.
This number is aggregate even if a couple loans are with Bank of America, some with Wells Fargo, a few with Citibank, etc. Four was a very restrictive number, 10 is better, but there definitely are investors out there that own dozens of financed rental properties.  Their ability to refinance was also stymied.
Outside of that restrictive box are hard money lenders, portfolio lenders, commercial lenders and lenders in the 5+ unit apartment market
We have solutions for you if you are interested in buying or refinancing a rental property.

Thursday, May 23, 2013

Home Loans for Foreign National Buyers

Home loans for foreign nationals have been difficult to get recently.  CS Financial has an excellent source for financing these buyers.
We have partnered with lenders that are enthusiastic about lending to foreign nationals. Down payments tend to be higher but rates are very competitive to traditional financing. If you are interested in purchasing a home in California without permanent residency, let's talk!

Wednesday, May 22, 2013

Building a Home? You May Need a Construction Loan.

Many lenders have left the home construction marketplace. It is too risky for them and entails a huge amount of work.
Construction lending is mostly limited to a property that will be owner-occupied upon completion. "Spec" financing (financing a speculative development for sale) is far more difficult to achieve. The risks are higher and the lenders are of a different breed. Developers who are building new single family construction will pay higher rates for this type of loan - and justifiably so.
That being said, there are a couple great lenders who can provide a loan for your single family construction project.
They are industry veterans who understand the intricacies of lending to someone building a house. Call us for an introduction to the right lender.