Wednesday, May 25, 2016
AssetAvenue Launches 30-Year, Residential Loans
Los Angeles-based online, real estate investment lending site AssetAvenue has launched into providing 30-year, fixed loans for real estate investors, specifically to invest in the purchase of rental properties, according to the company. AssetAvenue said its new loads are intended for use in purchasing rental properties, including single-family homes, two to four multitenant units, condos and townhomes. Unlike a traditional mortgage, AssetAvenue said the new product uses not income, but an individual's Debt-Service Coverage Ratio (DSCR), to qualify loans, specifically to allow entrepreneurs who are "fixing and flipping" homes to qualify for loans.