Asset Based Lending offers real estate investors a variety of rental loan options throughout Georgia and beyond. We want to highlight how our term rental program can help Georgia real estate investors by diving into a few of our recently funded loans. These are real loans from real borrowers that have used ABL financing to buy and hold rental property, receive a cash out of their current property, or add property to their existing rental portfolio. Whether you’re a new real estate investor looking to finance your first rental property, or you’re a seasoned pro looking to expand your rental portfolio, ABL can help fund your next success.
All our rental loans offer a 15-day rate lock guarantee to ensure our borrowers are protected from the rising rate environment. We’re able to provide this rate lock for our borrowers if they meet simple criteria including the submission of two months of bank statements, credit authorization, and by using our preferred title company which includes a discounted fee. By checking these boxes, we’re able to guarantee the loan rate for 15 days, allowing us to close the loan without being impacted by market disruptions and providing peace of mind to our borrowers.
Single Family Property Purchase Rental Loan In Decatur GA
Our first rental loan comes from Decatur, located in DeKalb County and part of the Atlanta metropolitan area. 41% of the population rents their home, and the average monthly rent has been steadily increasing year-over-year for all property types ranging from studios up to 3-bedrooms. This loan was for the purchase of a single-family home as part of the borrower’s buy-and-hold rental strategy. The home is measured at 1,802 square feet with an as-is value of $315,000 and already has a tenant in place, so the asset will immediately begin generating approximately $2,450 per month. We provided a loan amount of $248,000 funded at 80% LTV. This fully amortizing 30-year rental loan was issued at a 7.5% interest rate and was rate locked for 15 days to avoid market disruptions.
Cash Out Refinance Of Single Family In Norcross GA
We financed another single family rental property in Cheltenham, which was a rate and term refinance. The property is measured at 1,404 square feet and already has a tenant in place, so the asset will immediately begin generating monthly income. We provided a loan amount of $424,000 that included a cash out of $127,202 with total loan funded at 80% LTV. This fully amortizing 30-year rental loan was issued at 6.625% interest rate. As a single family rental investment, the property is expected to bring in a gross monthly rent of $4,027.
Our next Georgia rental loan comes from Norcross. Located in Gwinnett County to the northeast of Atlanta, the city is part of the larger metro area and benefits
rental vacancy rate hovering around 4.7% means finding tenants is relatively easy
43% of the population rents and average monthly rent for the area has jumped in recent years, highlighted by a 21% year over year increase in average rent for 1-bedroom properties.
The property is a single-family measured at 1,441 square feet and already occupied with a long-term tenant, so this asset will immediately start generating income of $2,100 per month.
This fully amortizing 30-year rental loan was issued at 7.375% interest rate
We provided a loan amount of $220,500 that included a cash out of $34,417 with total loan funded at 70% LTV.
Rate locked for 15 days
ABL has partnerships in place with a title company
Allows us to lock rates and ensure our borrowers are protected from market changes
Loan $220,500
Purchase $190,000
As-is value $315,000
Rate & Term Refinance Loan in Columbus GA
The same borrower from the previous deal wanted to expand their rental portfolio so we helped them finance the property purchase of a two-unit multifamily in Hagerstown, which is a moderately-sized city that anchors the metro area of northwest Maryland. The property is measured at 2,641 square feet and has both units vacant, so tenants will need to be acquired. We provided a loan amount of $212,000 with a cash out of $210,205 and total loan funded at 80% LTV. This fully amortizing 30-year loan with 5-year stepdown was issued at 5.875% interest rate. This multifamily property is expected to bring in a gross monthly rent of $2,150, and the borrower will hold this and the previous property as income-producing assets for years to come.
Cash Out Refinance Of Single Family In Lithonia GA
Our final loan highlight is for another cash out refinance of a single family property in Baltimore. The property is measured at 2,108 square feet and is already tenant-occupied, so the asset will immediately begin generating monthly income for the borrower. We provided a loan amount of $232,500 with a cash out of $134,579 with total loan funded at 75% LTV. This fully amortizing 30-year rental loan was issued at 6.5% interest rate. With no renovation to the property, this single family rental is expected to bring in a gross monthly rent of $2,150.
Choosing ABL For Your Georgia Rental Loans
Asset Based Lending is proud to offer a rate lock program on our rental loans, as well as our bridge loans for fix and flips and new construction. This rate rising environment can impact the exit strategy of real estate investors, so we try to evolve our programs to match the market and maintain the most borrower-friendly financing available today. ABL works diligently to provide the best possible interest rates for our borrowers, ensuring that BRRRR investors receive favorable rental loans with our signature five-star service from start to finish.
With rates starting as low as [website-variables acf_name=”rl_rate_min”] and maximum LTV of [website-variables acf_name=”rl_arv_max”], we provide rental loans for [website-variables acf_name=”rental_units”] family properties that can be structured as 30-year amortizing, ARM, or interest-only options. Whether it’s a traditional long-term lease rental property, or you’re looking for Airbnb rental loans, our term rental program can help finance your next success. Contact us today to discuss your deal and be approved for your GA rental loan.