Mortgage brokers can offer revised FlexPerm to investors and small business owners
Velocity Mortgage Capital has announced adding a 30-year fixed-rate option for residential investment and small commercial properties to its FlexPerm loan.
The company said that FlexPerm’s 30-year term enables mortgage brokers to offer independent real estate investors and small business owners an option to lock in low fixed rates for a longer term without the uncertainty of potential rate hikes.
“Increased interest in investment property ownership presents new opportunities for mortgage brokers, and our updated FlexPerm loan offers borrowers and brokers a win-win,” said Chris Farrar, founder and chief executive officer of Velocity Mortgage. “The new 30-year option on FlexPerm loans allows borrowers to lock in historically low rates for the life of the loan.”
The firm offers the revised FlexPerm program only through mortgage brokers. It is available as a three-year-fixed or 30-year-fixed loan.
“We’re proud to provide loan products that enable brokers to expand their client base by helping them address the unique needs of independent real estate investors and small business owners who typically don’t qualify for traditional bank loans,” Farrar said.
