Innovative Loan Program for Non-Owner Occupied Properties Launched by Interfirst Mortgage

CHICAGO, July 15, 2021 /PRNewswire/ -- Interfirst Mortgage Company (Interfirst), a private equity-backed mortgage originator, announced today the launch of 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 unique mortgage loan program built upon a single interest rate with no adjustments and qualifies off the cash flow of the rental property (DSCR of 1 or higher).

ONE is the first loan program to launch as part of Interfirst's Independence Series of mortgage loan programs. Additional loan programs will be launched in 2021.

"We are excited to announce ONE and provide professional real estate investors with a solution independent of the government," said Chief Strategy Officer, Bryan Filkey.

"Currently, Mortgage Brokers have to navigate rate sheets to price a loan," added Mr. Filkey. "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 an innovative solution for professional real estate investors. Interfirst controls and owns all product guidelines and sets the high-quality parameters as well as invests in the loans (e.g., FICO scores, LTV requirements).

ONE Program Overview

• 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

Virtual Launch Event on ONE Program
On July 22, 2021, Interfirst is holding an exclusive virtual launch event to discuss ONE. For more information, or to sign up for the webinar, please visit www.Interfirst.com/one.

About Interfirst
Interfirst Mortgage Company is a private equity-backed mortgage originator that is focused on delivering a transparent, streamlined customer experience. Founded in 2001, and relaunched in 2020, Interfirst is built on a new proprietary loan origination technology platform and an expanded business model featuring a newly integrated retail and wholesale offering. With innovation at its core, Interfirst enables mortgage broker partners and loan originators the ability to operate efficiently and friction free through a technology-driven model based on service, speed, competitive products/pricing and sustainability. Interfirst is currently licensed in 28 states including Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Illinois, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, New Hampshire, New Mexico, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia and Wisconsin as well as the District of Columbia, with plans in place to be licensed in all 50 states.

Visit Interfirst.com or contact 800.520.7087 to learn more.

SOURCE Interfirst Mortgage Company

Related Links

http://www.interfirst.com/