For Investors
Investor Mortgages
Second Federal has developed a market niche catering to residential real estate investors. Whether you are starting out with your first property or have a large portfolio, Second Federal can provide the personal attention and service you want and deserve.
Some of the benefits of working with Second Federal are:
- Local decision making
- Fast turnaround times (typically 30 days or less when needed)
- Flexible terms
- No bank deposit accounts required
- Low fees
Other helpful information for investors in making their decision to choose Second Federal as your preferred mortgage lender:
- Loans can be in the name of an individual or an LLC. All mortgages in the name of an LLC require the personal guarantee of each LLC member.
- Short-term lending can be interest only.
- Adjustable-rate loans are fixed for five years, then reset every five years thereafter.
- Most loan terms amortize over 25 years.
- Renovation loans have the option of converting to permanent financing.
- We do not have sales goals so we are only interested in doing the right thing for our customers in our desire to operate a safe and sound financial institution.
We offer mortgages to suit the needs of real estate investors:
- Single Family (1-4)
- Mixed Use
- Multi-Family (5+ units)
- Commercial
- Construction (Renovation only)
From our customers, we do require the following:
- At application, complete individual and corporate financial information for the previous two years including all tax returns.
- Annually, updated financial information, rent rolls and current tax filings.
We invite your inquiry as to how we may help you.