BOCA RATON, Fla., July 21, 2016 /PRNewswire/ -- LendingOne, one of the nation's fastest growing online lenders for real estate investors, announced today its newest loan product: RentalOne. Designed exclusively for real estate investors, RentalOne is available as a 30-year fixed rate loan for the purchase of a new property, or for the refinance of an existing property, including cash-outs up to 70% LTV. Rare in the direct private lending sector, this 30-year fixed rate loan is changing the game on how investors finance their investments and grow their real estate portfolios.
"We are excited to offer real estate investors a turnkey solution to be able to buy a property, renovate it and then turn it into a long-term 30-year loan," said Matt Neisser, COO of LendingOne. "We always talk about growing portfolios, so we created a 30-year rental option that only a few companies in the country can offer."
"As a former real estate investor myself, I understand the issues small to mid-sized real estate investors face in profitably growing a portfolio of rental homes," said Bill Green, CEO of LendingOne. "Our new RentalOne loan product was designed to provide real estate investors with a 30-year loan at a fixed rate starting as low as 6.49% with no adjustments over time, so investors can lock in that same 30-year rate and always know exactly what they will be paying."
The RentalOne product is an ideal choice for those who currently own or are looking to purchase single family and 2-4 unit properties. Offering LTVs of up to 75%, investors can refinance their current rental properties with this loan and increase monthly cash flow thanks to these competitive rates.
With no hurdles and a completely online process that makes pre-approval significantly faster and easier than a conventional lender, investors can close their RentalOne loans with LendingOne in as little as 15 days as opposed to months. This loan focuses on the property's value and monthly cash-flow instead of the borrower's income and credit. RentalOne loans can be paid off after 2 years with no pre-payment penalties, which offers investors complete flexibility. In addition to the 30-year fixed rate loan, RentalOne is also available as a 5/1 or 7/1 hybrid adjustable rate mortgage.
LendingOne is a direct private real estate lender that specializes in providing investors with fix-and-flip and buy-and-hold loans for non-owner occupied residential properties. Through direct access to its own capital and a user-friendly online application, LendingOne has streamlined the overall lending process and made it quicker and simpler for investors looking to finance their next real estate investments.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lendingone-announces-30-year-fixed-rate-loans-for-real-estate-investors-rentalone-300301492.html