lending. The loans are underwritten differently, generally based more on the income-earning potential of the property than on an individual’s income. Also, money is distributed throughout stages of the project rather than as a lump sum at the initial closing. Finding a lender that has expertise in this process can be key to long-term success. 2. WHAT FINANCING OPTIONS DOES THE LENDER HAVE TO HELP YOUR PROJECT STAY ON TIME AND, CRITICALLY, ON BUDGET? Investment property lending is typically more customized to the project when compared to other types of mortgage loans. Having an experienced lender with flexible product options can be invaluable for your projects. 3. WHAT ARE THE LENDER’S UNDERWRITING REQUIREMENTS, INCLUDING THE DOWN PAYMENT, TO GET APPROVED FOR THE LOAN? Investment property evaluation, from the lender’s point of view, and the way the financing is underwritten, requires a review of criteria that are different than those for a traditional residential mortgage to make the loan successful for both the investor and the lender. Again, working with an established residential investment property lender is critical. 4. DOES THE LENDER HAVE A STEADY SOURCE OF CAPITAL TO HELP YOU WITH ONGOING OR POTENTIAL FUTURE PROJECTS? With the recent interest rate challenges those in the residential lending industry have faced, several lenders have had to
Investor home purchases are on the rise, with investors accounting for roughly 44,000 home purchases in the first quarter of 2024.”
SHAWN YERKES
remove products and significantly change their underwriting requirements. Some have stopped lending altogether. Find a lender with a steady source of capital that has had success in all types of business cycles. FMS Investor Financing is your investment property lending solution. At FMS Investor, we have more than 50 combined years of experience in the industry, and we have been through multiple business cycles. We have been lending through both periods of growth and market contraction. FMS Investor has a complete set of lending products, from short-term fix-and-flip loans to longer-term DSCR rental loans, loans for new construction, and even portfolio mortgages for a bundle of properties. Finally, we are well-capitalized to handle demand as it is needed. Contact FMS Investor for that next fix-and-flip project or any other investment property needs you or your clients may have.
Shawn Yerkes is a long-time executive turned entrepreneur, who has learned the importance of treating customers and employees like gold, ensuring growth and return business. He spent many years in mortgage banking with Bank of America before moving on to renewable energy as a senior executive at Sungevity and Zenernet. In between, he was the Managing Director - Global Service Centers for IWG, the parent company of the short-term office space brands Regus and Spaces. Shawn has been involved with the Fay Group for the last two years, as he saw an opportunity to create groundbreaking businesses focused on the customer experience and, more specifically, the next generation of investor lending and insurance. Through FMS Investor Financing and Constructive Insurance, he strives to create a culture in which everyone—clients, colleagues, and vendors—are poised for success.
For FMS Investor Financing, all terms subject to credit approval. All loans must be solely for a business or commercial purpose and secured by a non-owner-occupied property. Products not available in ND, RI, UT, or VT. In CA, NV, and SD products offered by Fay Servicing, LLC d/b/a Constructive Mortgage Services. NMLS ID 88244. In all other states not previously listed, products are offered by Constructive Loans, LLC d/b/a FMS Investor Financing. Please visit www.nmlsconsumeraccess.org for additional licensing/registration information. All loans made and arranged in California pursuant to a California Financing Law License # 60DBO-82792. Rates, terms, and conditions are subject to change from time to time without notice.
thinkrealty.com | 19
Made with FlippingBook Online newsletter