WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--
FlexPerm loan update eliminates the balloon payment associated with private money loans along with the potential rate hikes of adjustable rate mortgages
Velocity Mortgage Capital, a direct portfolio lender dedicated exclusively to providing investment property loans, has updated its FlexPerm loan with a 30-year, fixed-rate loan option for residential investment and small commercial properties.
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FlexPerm offers investors an alternative to traditional bank loans, which typically include 10-year balloon payments or private money loans that often include a large balloon payment within 1-2 years. Designed for independent real estate investors and small business owners seeking a simple financing solution for purchase or refinance, FlexPerm’s 30-year term allows investors to lock in historically low fixed rates for a longer term without the uncertainty of potential rate hikes.
First offered in 2015, Velocity’s FlexPerm loan was previously available with a 3-year-fixed or 8-year-fixed loan amortized over 30 years. The revised program is available as a 3-year-fixed or 30-year-fixed loan amortized over 30 years. FlexPerm loans, as with all Velocity mortgage programs, are offered only through mortgage brokers, not directly to real estate investors.
“Increased interest in investment property ownership presents new opportunities for mortgage brokers, and our updated FlexPerm loan offers borrowers and brokers a win-win,” said Velocity CEO and founder, Chris Farrar. “The new 30-year option on FlexPerm loans allows borrowers to lock in historically low rates for the life of the loan. We’re proud to provide loan products that enable brokers to expand their client base by helping them address the unique needs of independent real estate investors and small business owners who typically don’t qualify for traditional bank loans.”
Velocity’s investment property loans include residential 1-4 unit rental properties like single family homes, condominiums and townhomes to multi-family apartments, mixed-use and small balance commercial buildings. For more information, visit www.velocitymortgage.com, or see sample featured fundings at https://www.velocitymortgage.com/featured-investment-property-loans/.
About Velocity Mortgage Capital
Since 2004, Velocity Mortgage Capital has funded over $3.2 billion in investment and commercial property loans. By focusing more on the property's value and revenue-generating potential, the company’s asset-based investment property loans enable brokers to meet the unique needs of real estate investors who are tough to qualify, including W-2 employees, self-employed entrepreneurs and small business owners. Velocity's financing programs range from temporary, short-term, credit repair and fix-and-flip programs to 30-year, fully amortized mortgages with flexible terms to meet the diverse needs of real estate investors. Because every borrower, even the extraordinary ones, deserves an opportunity.