Investor Alert: Renter Nation - The New America
Interest rates are low, and housing prices are more than fair. So why can’t you get a loan or, sell a house? The answer lies with the sub prime mortgage implosion and the subsequent housing market crash which took down the whole economy. The end result is that residential mortgages are much harder, if not impossible, to obtain for some people. Not too long ago, just about anybody could get a loan for a home. The current restrictive lending environment makes it impossible for borrowers with damaged, bruised or otherwise not perfect credit to qualify.
What does this all mean? In my opinion, we have become a nation of renters. Many factors play into that, like the fact that we are a much more transient society than we were 20 years ago and young people graduating from college already have “mortgages” they just call them student loans.
WBG Commercial Lending has loan programs for Apartment Buildings and Multiple Units. Actually, it is surprising how aggressive lenders are becoming in doing these types of loans and we have lenders currently looking for these types of properties.
As the economy improves interest rates will go up. A higher rate means current renters stay in place and resist moving into a more expensive housing. Contact WBG Commercial to take advantage of the financing options we offer for multi-family and apartments now and you could be in firm control of your future. Call today to discuss your financing options.
Rajendrakumar rara k