When it comes to financing rental and vacation properties, the myriad of options available can often be overwhelming. In this comprehensive review, we delve deep into the offerings of Visio Lending, a prominent player in the realm of rental property financing. As an affiliate partner of Visio Lending, Moonshine Capital is excited to share insights on how Visio Lending's programs can be a game-changer for real estate investors!
Understanding Visio Lending's Loan Programs
Visio Lending specializes in two main types of loans: Rental Loans and Vacation Rentals. Rental Loans are tailored for those looking to hold onto their properties long-term or sell them at the right time. On the other hand, Vacation Rentals are designed for business owners and self-employed borrowers who wish to capitalize on short-term rents.
Key Features of Visio Lending's Financing Programs
30-Year Financing: Visio Lending offers 30-year financing options for ready-to-rent properties, including both long-term single-family rentals and vacation rentals.
Loan-to-Value (LTV): Borrowers can avail up to 80% LTV on purchases and refinances.
Corporate Borrowing: Visio Lending provides the flexibility to borrow through a corporate entity, thereby safeguarding personal assets and identity.
Borrower Qualifications
Visio Lending's borrower qualifications are simplified and straightforward. While they do not require income verification, tax returns, or 4506 documentation, certain documents such as a form of ID, voided check, title company contact, insurance declarations page, and entity documents are mandatory. Additionally, borrowers must have a minimum credit score of 680, with no open foreclosure or bankruptcy.
The Application Process
The application process at Visio Lending is divided into three main stages: Application Stage, Processing, and Closing Stage. Each stage is meticulously designed to ensure a smooth and hassle-free experience for the borrower.
Interest Rates
The interest rates for single-family investment properties at Visio Lending are typically higher by 125 to 300 basis points compared to conventional mortgages. This is attributed to the perceived higher risk associated with investment and rental properties.
Competitors and Alternative Providers
The real estate financing market is teeming with competitors and alternative providers such as Quicken Loans, LendingOne, Lima One Capital, and CoreVest. Each of these firms offers a unique set of loan types and qualification criteria, providing investors with a plethora of options to choose from.
Final Remarks
In conclusion, Visio Lending stands out as a streamlined and simplified conduit for rental property financing.
With its focus on long-term and vacation rental loans, simplified borrower qualifications, and structured application process, Visio Lending is a viable option for real estate investors!
However, it is crucial for prospective borrowers to conduct a thorough evaluation to ascertain the alignment of Visio Lending's offerings with their real estate financing objectives.
For more information on Visio Lending and to explore their financing programs, click here.
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