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Interfirst Announces New Non-Owner-Occupied Offering

Interfirst Mortgage Company has launched ONE: a new loan program backed by non-owner occupied properties. Designed to fill a significant need in the market for multi-property, non-owner professional real estate investors, ONE is a mortgage loan program built upon a single interest rate with no adjustments and qualifies off the cash flow of the rental property (Debt-Service Coverage Ratio [DSCR] of one or higher).

"We are excited to announce ONE and provide professional real estate investors with a solution independent of the government," said Interfirst Chief Strategy Officer Bryan Filkey. "Currently, Mortgage Brokers have to navigate rate sheets to price a loan. This process often requires time and expertise to perfect, and in many cases is outsourced to a pricing engine, due to hundreds of potential adjustments which change as the loan parameters change. With the ONE DSCR program, Mortgage Brokers can spend less time decoding rates and more time helping clients build their business and expand their investment footprint. How? ONE has no adjustments to the interest rate (or price) during the loan process. ONE simplifies the loan process by giving investors what they need to make decisions quickly and easily and the rate won't change regardless of what happens to the scenario."

Today, Fannie Mae and Freddie Mac are reducing their footprint in non-owner occupied properties due to an amendment that caps investment property acquisitions at 7%. ONE is a privately-backed loan program, independent of the government, and offers a solution for professional real estate investors.

Highlights of the ONE program include:

  • One interest rate regardless of scenario
  • No adjustments to loans regardless of term
  • Private loan program (independent of the government)
  • Market opportunity of more than 24 million non-owner occupied properties in the USA
  • Currently licensed in 28 states and the District of Columbia

On July 22, 2021, Interfirst is holding a virtual launch event to discuss ONE. For more information, or to sign up for the webinar, visit Interfirst.com/one.

 

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
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