30 year loans for investment properties?

Question

Is anyone getting 30 year loans for investment properties?  The lenders I've been using say they can't give me more than 20 years.  My focus is on cash flow, so obviously I want the longer term!

Account Closed · Answer

30 year loans for investment properties definitely exist. The loan should close to a business name, with interest rate about 5% and 2-3 points.

Will Karstetter · Answer

Do you have any companies / lenders that you would recommend?

Dan H. · Answer

I did 8 three months ago.  One purchase, 7 cash out refinances.   Took 6 hours of signings.

I think I will never do that many at one time again.  Ended up I missed something that I believe I would have caught otherwise.  Mistake will cost us a few grand, so not catastrophic but undesired.

Good luck

David Shifirn · Answer

@Stephen Keighery

How? If you own it in an llc it needs to be a commercial loan and they don’t offer 30 yrs. A personal loan in your name can be funded through a residential loan and get that length. The only way I know to obtain a 30 yr length loan with a business entity as the named party would be to get the loan through your name as a personal residential loan and then perform a quit claim deed into the llc. Technically that could call the loan due at that point though, although I’ve heard it’s rare. Please share.

Thanks

Stephen Keighery · Answer

@Billy Daniel I am getting a 30 year loan on a rental in an LLC right now.

Alecia Loveless · Answer

@Billy Daniel 30 year fixed on small multis. 3.8% two weeks ago. Conventional.

Timothy Hero · Answer

You can get private mortgage loans in the 3.5 - 6% range right now. 30-year fixed and they lend to LLC's.

Will Karstetter · Answer

Did your 30 year loan go through? How was your experience and who did you use?

David Luu · Answer

Are the loans cheaper if for investment property but as personal rather than business/commercial loan (non-LLC case)? I do know they are more costly than loans for homeowner occupancy.

30 year loans for investment properties?

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