A rental property loan is a short term private money loan used to cover the time between two real estate transactions. It is typically used to purchase the rental property quickly, perform any necessary rehab or renovation to the property, while securing long term, conventional financing for refinancing out of the property. This usually requires the buyer to secure pre-approval with a conventional bank prior to securing the rental loan.
If you are an investor or rental property owner interested in buying properties that require all cash or private money, consider our rental property private money program. Our rental property hard money loans provide up to 75% of the project cost, which is the purchase price plus the cost of the rehab. These loans have no prepay, which allows you to refinance the property as quickly as you can.
Rental Property Loans at a glance:
- Up to 75% Loan to ARV (After Repair Value)
- 60 Days – 6 months Term
- $30K to $1MM+ Loan Amount
- 7% to 14% Rates
- 2 to 3.5 Origination Points
- 3-5 Draws, if rehab required
- No prepayment penalties or minimum hold period
Rental Loans are also referred to as Airbnb, VRBO, and Short Term Rental Loans. As these and other short-term rental property platforms continue to grow in markets throughout the US, particularly in popular travel destinations, such as San Antonio and Austin. As the short-term rental market becomes increasingly efficient and utilized, the value of desirable properties will continue to go up. We provide short term bridge loans to get the property acquired, updated, and rented out. Our terms for these loans are similar to what is shown above.
If you have any questions about these types of loans, you can apply here and one of our loan officers will contact you or feel free to contact us directly at 832-770-4375.
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All loans are subject to Searchers Capital, LLC approval and we reserve the right to change or alter any and all advertised programs at our sole discretion.