RENTAL FINANCING

THE RENTAL NEXT DOOR PROGRAM

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Looking to invest in a rental property, but need help with financing?


THE RENTAL NEXT DOOR PROGRAM

Home HeadQuarters offers financing to homeowners who want to own or renovate rental property in their neighborhood. The program provides qualified applicants with loans to cover the cost of purchasing a vacant property and/or renovating property into one or more suitable rental units.

Program Details

  • The program currently offers loan terms of up to 15 years with a fixed 6.99% interest rate.
  • 90% maximum Loan to Value after rehab
  • No PMI/MPI
  • Flexible underwriting

Eligibility Requirements

  • Owner must reside in Onondaga County
  • Owner must demonstrate a good track record of tax payments
  • Property must have a positive cash flow
  • Property must be a 1-4 unit residential property
  • Owner must provide at least 10% equity towards the purchase or rehab
  • Owner needs to submit a redevelopment plan for the property along with price estimates/bids from contractors