Press Release- Little Rock Turnkey Now Offering Bank Financing Beyond 10 Properties for Domestic and International Investors
Memphis, TN (March 23, 2015) – Little Rock Turnkey is excited to announce that we have developed a relationship with a local bank that has expressed the desire to build their real estate lending portfolio to investors beyond the 10 property Fannie Mae limit and international investors seeking to get property loans in the US. This is an in house lending product offered by the bank, in other words, the bank will hold the loan instead of selling the loan on the secondary market. While the terms can vary based on fluctuations of interest rates and individual borrower file, the current terms are approximately:
US Borrower: 25% Down. 20 Year Amortization w/ Rate Adjustment at Year 5. Rate 5.5%. Loan Origination ½ to 1%. Tenant does not have to be in place.
International Investors: 50% Down. 20 Year Amortization w/ Rate Adjustment at Year 5. Rate 5.5%. Loan Origination ½ to 1%. Tenant must be in place.
Since this is an in house bank product, the rate adjustment at year 5 will be determined by current interest rates. Standard underwriting procedures apply. This is a fantastic way to continue buying real estate, while at the same time, having a property in your portfolio building equity quicker on a 20 year amortization.
Our You Tube page is a great site to see educational videos and property video tours. That site address is: www.YouTube.com/user/MemphisTurnkey
About Memphis Turkey & Little Rock Turnkey: We provide all the services one would need to invest passively in Memphis and Little Rock from anywhere in the world. Our business model focuses on properties in better areas that are renovated to a high standard, which, along with excellent Property Management will position the property to give investors peace of mind and better returns.
For Immediate Release