SmartVest Platinum: Tailored Financing for Savvy Real Estate Investors

Are you an experienced real estate investor seeking to maximize your investment potential? Look no further than the SmartVest Platinum loan program. Designed specifically for seasoned investors, SmartVest Platinum offers a range of flexible financing options to help you purchase, refinance, or cash out on your investment properties. With tailored solutions and competitive terms, SmartVest Platinum empowers you to take your real estate portfolio to the next level.

Program Overview

SmartVest Platinum is an investment property business purpose loan that focuses on the cash flow generated by the subject property. This unique program is ideal for borrowers who want to leverage their real estate investments without the complexities of traditional income verification processes. Here are the key highlights:

1. Loan Terms:

• Fixed Rate Options:

• 30-year term

• 30-year Fixed Rate Interest Only (10-year interest-only period, 20-year amortization)

• 40-year Fixed Rate Interest Only (10-year interest-only period, 30-year amortization)

1. Prepayment Penalties:

• Options for no prepayment penalty or three-, two-, or one-year penalty periods.

• Specific state restrictions apply (e.g., no prepayment penalties in AK, DC, ID, IL, KY, ME, MN, MS, NH, OH).

1. Maximum Cash-Out:

• Up to $750,000 for LTV/CLTV ≤ 60%.

• Up to $500,000 for LTV/CLTV > 60%.

1. Debt Service Coverage Ratio (DSCR):

• Fully Amortized Products: Gross rents divided by the full payment (PITIA).

• Interest Only Products: Gross rents divided by the interest-only payment plus taxes, insurance, and association fees (ITIA).

• Minimum DSCR: 1.0 for purchases and rate/term refinances; 1.15 for cash-out refinances.

1. Eligible Property Types:

• 1-4 unit properties

• Warrantable and non-warrantable condos

• Modular homes

• PUDs

1. Investor Experience:

• Experienced Investors: Must have 12 months of consecutive landlord experience within the last three years.

• First-Time Investors: Permitted with specific conditions, including a minimum FICO score of 700 and a maximum LTV of 75%.

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Documentation Requirements

To ensure a smooth and efficient loan process, SmartVest Platinum requires the following documentation:

• Complete schedule of all real estate owned, indicating financed and free and clear properties.

• Mortgage/lien rating for each financed property.

• Business Purpose Loan Certification and Occupancy Certification signed by the borrower(s).

• For long-term rentals, current lease agreements and Single-Family Comparable Rent Schedule (Form 1007/1000) are required.

• For short-term rentals, an AirDNA Property Earning Potential report and Single-Family Comparable Rent Schedule (Form 1007/1000) are necessary.

Why Choose SmartVest Platinum?

Flexibility and Expertise: With SmartVest Platinum, you benefit from tailored loan options designed to meet the specific needs of real estate investors. Whether you are purchasing a new property, refinancing an existing one, or cashing out, this program provides the flexibility and expertise to help you achieve your investment goals.

Simplified Qualification: By focusing on the cash flow of the subject property rather than traditional income verification, SmartVest Platinum simplifies the qualification process, allowing you to secure financing more efficiently.

Comprehensive Support: Our dedicated team of professionals is here to guide you through every step of the loan process, ensuring you have the support and resources needed to make informed investment decisions.

Conclusion

Unlock the full potential of your real estate investments with SmartVest Platinum. Designed for savvy investors like you, this program offers the flexibility, competitive terms, and support you need to grow your portfolio. Contact us today to learn more about how SmartVest Platinum can help you achieve your investment objectives.

For more information, reach out to our expert team at Newrez. We are here to assist you with any questions and provide personalized guidance tailored to your investment needs.