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Investor Loans in Exeter
Exeter sits in Tulare County's agricultural belt where rental demand stays stable year-round. Agricultural workers, young families, and retirees keep occupancy rates consistent.
Single-family rentals dominate here. Multi-unit properties are rare. Most investors target 3-bed homes in the $300K-$450K range.
Cash flow works differently than coastal markets. Lower property taxes and stable rents make the math straightforward for buy-and-hold investors.
Most investor loans require 15-25% down for single-unit rentals. Multi-unit properties need 20-30%. Your credit score needs to hit 640 minimum, though 680+ gets better rates.
Lenders calculate debt-to-income differently for investment properties. Some ignore the mortgage entirely if you use DSCR financing. Others require 45% DTI or lower with traditional investor loans.
You don't need W-2 income for most programs. Bank statement loans and DSCR products focus on the property's cash flow, not your paystub.
Big banks rarely compete on investor loans in secondary markets like Exeter. They save their appetite for metro areas with higher property values.
Non-QM lenders fill this gap. They write loans based on rental income potential, not your tax returns. Expect rates 1-2% higher than conventional mortgages.
Portfolio lenders hold some loans in-house rather than selling them. This lets them approve deals that don't fit Fannie Mae boxes. They're pickier about property condition though.
DSCR loans close fastest for Exeter investors. You submit rent rolls or appraisal-based rent estimates instead of two years of tax returns. Approval hinges on whether rent covers the mortgage payment by 1.0x to 1.25x.
Fix-and-flip buyers need hard money or bridge loans. These fund quickly but charge 8-12% interest. You exit when the rehab sells or you refinance into long-term financing.
Most investors here build portfolios slowly. They buy one property, stabilize it for 6-12 months, then cash-out refinance to fund the next deal. Rinse and repeat.
DSCR loans skip income documentation entirely. You qualify on rental cash flow alone. Hard money loans fund in days but cost double the interest. Bridge loans sit between the two for speed and price.
Interest-only loans lower your monthly payment during the first 5-10 years. This boosts cash flow but delays equity buildup. They work for investors prioritizing monthly returns over long-term appreciation.
Conventional investor loans offer the lowest rates if you document W-2 income and keep DTI under 45%. You sacrifice flexibility for cost savings.
Exeter's property taxes run lower than coastal California. This helps cash flow math work on properties priced under $400K.
Agricultural zoning complicates some deals. Properties on AG land face different lending rules. Make sure your appraiser understands the distinction between residential and AG parcels.
Rental demand stays tied to ag employment cycles. Harvest seasons drive temporary housing needs. Long-term renters typically work in citrus packing or local services.
HOA fees are minimal or nonexistent in most neighborhoods. This keeps operating costs predictable compared to condo-heavy markets.
Yes. DSCR loans qualify you based on the property's rental income, not your paystubs. You need 15-25% down and 640+ credit.
Typically 20-25% for another single-family rental. Lenders increase reserves requirements when you own multiple properties.
Properties under $400K can still cash flow if rents hit $2,000+. Run your numbers with 7-9% interest rates to stress-test.
3-4 weeks if the appraisal comes back clean. Delays happen when appraisers struggle to find comps in smaller Tulare County towns.
Hard money works for fix-and-flip timelines, not long-term holds. Rates hit 8-12%, which kills rental cash flow.
640 minimum for most programs. 680+ unlocks better rates and more lender options.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.