Short-term rental loans have recently become more accessible for borrowers interested in renting their investment homes on platforms such as AirBnB or VRBO. Until recently, lenders were hesitant to finance these types of properties due to their perceived risk. Blink Lending & Investments, however, has taken up the challenge to provide financing solutions for these rental properties with their Short-Term Rental (STR) products. Like their DSCR loans, Blink Lending & Investments'
Loan Products
Bank Statement Loans: A Convenient Alternative to Traditional Lending
As the home buying season heats up, it's important for potential buyers to know what options are available to them. In particular, buyers who are self-employed or have income streams that are not traditionally documented may feel frustrated by the loan process. That's where the Bank Statement Program comes in. This program offers a range of benefits, including up to 55% debt-to-income (DTI) ratio and up to 90% loan-to-value (LTV) ratio. But what sets this program apart is the quick income
P & L Loans: The Solution to Homeownership Challenges
As a local mortgage lender, we know how difficult it can be for self-employed homebuyers to secure traditional financing. However, there is a solution to this problem that is slowly gaining traction in the market. Enter the P&L or Profit and Loss loan, a product tailored specifically for independent contractors or business owners who don't have the usual documentation that traditional lenders require. So, what exactly is a P&L loan? Essentially, this is a mortgage product that uses a
Investor DSCR Loans: Revolutionizing Real Estate Investment Lending
Are you a real estate investor in need of financing for your investment properties but tired of the cumbersome process of providing income documents and being qualified with personal income? Then Blink Knows Investor DSCR Loans may be the solution for you. A debt service coverage ratio (DSCR) loan qualifies borrowers based on their investment property's cash flow rather than their personal income. This type of loan is frequently used by real estate investors to buy investment properties while
Which Mortgage Is Right for You? A Comprehensive Guide
What is the Best Mortgage for you? There are two components to your mortgage payment—principal and interest. Principal refers to the loan balance you take out. Interest is an additional amount (calculated as a percentage of the principal) that lenders charge you for borrowing money that you can repay over time. During your mortgage term, you pay in monthly installments based on an amortization schedule set by your lender. This can be any term from 7 to 30 years. There are
FHA Loan vs Conventional Loan: Which One to Pick?
Conventional vs FHA, what fits you best! Terminology in the mortgage industry can get a bit squirrely and misconceptions will run amuck 😊. Let’s break down one of the biggest misconceptions as your broker begins to rattle off options of the products are out there involving your purchase or refinance. What is a conventional Loan versus FHA loan? Conventional loans are NOT government loans, they are however insured by Fannie Mae/Freddie Mac in the secondary market. Fannie and Freddie are
