The statistics for early 2019 real estate around metro New Orleans show the 1st quarter housing market is strong for the metro area:
- The median price of single-family homes in the New Orleans area is up 4.6% from a year ago according to NAR
- The average price of single family homes in Orleans Parish is up 7.7% from last year according to UNO
You can be sure that anytime the real estate market heats up it’s at least partially due to increased investor activity buying properties to either renovate and flip or to hold as investment property.
And remember, for every seasoned investor, there’s someone who’s looking for the right encouragement to buy their first piece of investment property.
That’s why we’re so excited about this brand new financing product!
Investor 1-4 Units, 80% LTV with NO Income Qualification!
We had to pinch ourselves when we first saw this product come across our desks. Was it a delayed email from 2005😂?
Nope… it’s dated May 2019, and it’s a game changer for real estate agents & their investors:
Investment Property Loans 80% LTV, No Income:
- Investor 1-4 family loans (not available for owner occupied)
- No income on application for borrower. DTI not underwritten.
- 80% LTV with 720 credit score
- The loan is underwritten based on Market rents
- 100% of the rents need to cover PITI
- Available on 5/1, 7/1 ARM or 30 year fixed
Build Your Real Estate Business with Smart Lending
We’ve got several programs designed to make it easier for investors to buy and even renovate real estate.
Please contact us today so we can connect and we can fill you in on the details!