Realty411 Magazine Featuring Lori Greymont | Page 43

FirstKey Lending Offers Innovative Opportunities, pg. 40
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 accessi-
ble 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
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Reiff. “Whether one property or 10,000, our suite of SFR
finance products provides a variety of solutions to the entire
spectrum of investors.”
FirstKey continues to simplify the logistics of all its
programs, streamlining the documentation process and in-
creasing the ease of closing. These efforts make it easier to
manage expenses and navigate the process for customers
who may be financing their investments for the first time.
FirstKey is backed by Cerberus Capital Management
L.P., one of the country’s largest private investment funds,
giving it the resources it needs to continue advancing in the
market. FirstKey management said the recent moves were
an effort to continue offering exciting new options and the
value that its customers have come to expect.
More information, please visit: http://firstkeylending.com
PAGE 43 • 2015

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