INVESTOR RESOURCES
LOANS
Long-term Rental Loans HOW TO DETERMINE IF THIS TYPE OF LOAN IS RIGHT FOR YOU
by Nathan Zielinski, RCN Capital
ne of the most important aspects when it comes to
or requirements for each of the different loan programs. At RCN specifically, the loan program that has seen the biggest increase in popularity over the last year is the long-term rental loan. Typically, a 30-year loan program, the long-term rental is the best option for real estate investors seeking passive income. With the long-term rental, there are plen- ty of factors that will work in an investor’s favor and make the loan program more appealing. The prop-
erty must be in rent-ready condition and the interest rate for this par- ticular program will be the lowest of any program that a lender or bank will offer. Having that lowest interest rate for the longest period makes the long-term rental loan very appealing. Currently at RCN Capital, the interest rate is 3.49%. However, you still must make sure that this specific loan is right for you. Just because it has the lowest interest rate for the longest time frame doesn’t
O
real estate investments is picking the right loan program for your- self and the property. Each lender will offer multiple programs so navigating through the different options and choosing the right one is essential. Don’t be afraid to ask a representative from the lender of your choice. They should have plenty of information regard- ing the products and will answer any questions about guidelines
22 | think realty magazine :: november 2021
Made with FlippingBook Online newsletter