Empowering Real Estate Investment: Flexibility in Alternative Lending
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Alternative Lending Case Spotlight Neighbourhood Holdings |
Empowering Real Estate Investment: Flexibility in Alternative Lending
At Neighbourhood, we pride ourselves on being a flexible and understanding lender. We believe in empowering our clients with our tailored solutions and commitment to efficiency. Here's an overview of a recent deal that exemplifies our approach:
Scenario
Meet Mr. Smith, a successful healthcare professional with a good income looking to invest in real estate. His latest venture is a triplex property located in Quebec, offering great potential for rental income. However, here are some challenges he faces in qualifying for prime lending:
Mr. Smith's credit score is slightly lower than 640, primarily due to numerous inquiries made in the past.
The property he intends to purchase requires a loan-to-value (LTV) ratio of 65%.
Solutions
Fortunately, at Neighbourhood, we understand the unique challenges faced by property investors like Mr. Smith. We have tailored solutions and flexibility to address his needs, ensuring he can seize this opportunity and make his investment work.
Unlimited Number of Doors:
Unlike traditional lenders, we do not impose a cap on the number of doors a borrower can own. This means Mr. Smith can continue to grow his real estate portfolio without restrictions.
No Rate Premium for Rental Properties:
Investment properties like this do not incur a rate premium with us. Our goal is to provide competitive rates, ensuring real estate investors can maximize their returns.
Fast and Efficient Turnaround:
We understand that time is crucial in the real estate market. With this rushed deal, we were able to send commitment on the same day the deal was submitted.
Note:
The case study above is for educational purposes only, with the intended audience being licensed mortgage brokers.