Investment Property Loan Options
From Gulf Coast Bank Serving metro New Orleans, Baton Rouge & the Northshore
Are you considering the purchase of an income-producing property for the first time? Or are you a regular investor in real estate looking for new options?
We have several lending programs available to investors to help make purchasing easier by using the cash flow of the property itself as well as alternative ways of verifying income. Contact one of our lenders near you to find out more about these important lending programs.
Cutting-Edge Lending Programs & Tools for Investors
Here is a summary of key programs and tools which will come in handy, especially for investors:
Bank Statement Loans
Traditional mortgage loan programs require tax returns, W-2s, and paycheck stubs in order to determine your monthly income. These requirements are fine for salaried or hourly borrowers, but self-employed borrowers who own businesses or who work on a contract basis may have a more difficult time qualifying as most conventional and government loan programs look at net income, or the adjusted gross income which shows you your tax returns.
Our Bank Statement Program allows self-employed borrowers to seek a home loan without having to produce traditional income documentation including tax returns and pay stubs.
We use bank statements to analyze your income instead of standard documentation. To determine your net income, we will look at a borrower's bank statement over 12 to 24 months.
Click here to learn more about our Bank Statement Loan Program.
Expanded Debt Service Coverage
Buying investment property may be easier with Expanded Debt Service Coverage, meaning more of the cash flow rental income from properties can be used to qualify for a loan.
Please contact one of our lenders near you to find out more.
Warrantable & Non-Warrantable Condos
Are you thinking about purchasing a condo near campus? How about a French Quarter property or condo along the Gulf Coast?
No matter what type of condo you’re considering purchasing as an investment, we would love to help.
Gulf Coast Bank offers loans for traditional, warrantable condo developments as well as lending options for non-warrantable condos. A non-warrantable condo is a condo property where the loan is not eligible to be sold through Freddie Mac or Fannie Mae for any number of reasons.
Multi-Unit Property Financing
Multi-unit properties are typically either two units (duplex), or 3-4 units. Properties with more than 4 units are considered commercial and fall under different lending categories.
Conventional conforming loans are available for multi-unit properties. However, your home loan options will depend on whether or not you plan to live in the property.
Click here to learn more about our multi-unit financing options.
Start the Process Today
If you’re considering an investment property purchase, contact one of our lenders near you to start the process today. We’ll help you understand your loan options and get pre-qualified so you can shop with confidence!