Private Money411 Magazine - The Source for Real Estate Finance - Page 13

FirstKey Lending Offers Innovative Opportunities, pg. 10 loans have no prepayment penalties, making them even more attractive for entrepreneurial investors who want to lock in long-term financing but maintain flexibility to sell assets or manage their investments. “The needs of entrepreneurial investors are not necessarily the same as institutional investors. With the introduction of this product, we are giving customers who are a bit less rate-sensitive the ability to choose a long term, fixed rate solution with complete prepayment flexibility,” said Reiff. “Recognizing that the needs and aspirations of entrepreneurial borrowers might change over time is what inspired the original 30-year property product, and we are now thrilled to make it available for customers who want to borrow up to $5 million against their multi-property portfolios.” FirstKey was the first national lender to target entrepreneurial borrowers in the rental finance space and has prided itself on innovating a wide variety of programs meant to make it easier to invest in the SFR market. For FirstKey, it’s not just about the borrower’s credit score, but the strength of the borrower’s investment. FirstKey looks primarily at the property’s value and the cash flows to determine the investment’s ability to service and ultimately repay the debt. This evaluation model can make FirstKey’s financing products accessible to a wide range of customers. “With the introduction of this product, we are giving customers who are a bit less rate-sensitive the ability to choose a long term, fixed rate solution with complete prepayment flexibility,” said Reiff. For entrepreneurial investors more interested in optimizing rate than term, FirstKey continues to offer Express portfolio loans under $5 million for 5, 7 or 10 years at some of the lowest fixed rates available in the SFR space. FirstKey’s wide range of products also includes options for many other types of investors. Premier provides non-recourse loans from $5 million to $500 million to mid-size and institutional rental investors. For entrepreneurs more focused on fixing properties and selling them, FirstKey also offers loans for rehab projects between $100,000 and $1,000,000 through its Fix & Flip program. “We are proud to continue innovating and improving our market-leading products to serve the unique needs of our entrepreneurial and institutional investors,” said Realty411Guide.com Reiff. “ ]