FirstKey Lending Rolls Out New Program For Investors In Residential

Posted by Patrick Barnard on December 17, 2013 No Comments
Categories : Residential Mortgage

Time to fire up that rental-backed securities machine…

FirstKey Lending, which offers financing to investors in one- to four-family residential rental properties, has launched FirstKey Lending Express, a new lending program geared for investors seeking loans of $5 million or less to acquire new properties or refinance existing debt.

The company claims this new program offers investors in residential properties ‘a fast, efficient source of financing and a streamlined closing process.’

‘The FirstKey Lending Express program is specifically designed to meet the unique needs of investors looking to borrow up to $5 million for their rental portfolios,’ says Randy Reiff, CEO of FirstKey Lending, in a release. ‘Investors with rental property portfolios under $5 million represent the largest segment of this market, yet they have historically had limited access to capital. We are pleased to introduce the FirstKey Lending Express program to these historically underserved investors.’

Loans offered under the FirstKey Lending Express program are typically non-recourse and generally have lower rates and better terms compared to other small-balance commercial loan products, the company claims.

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