With the housing market on a solid footing, investor confidence is better now. We have some alternative mortgage program for investment properties in CA. These are investment mortgage loans for 1-4 unit based on rental income only, no need to check individual income, no need for numerous documentation requests. For good FICO and LTV under 70%, it’s ok for rent below monthly payment. Interest rate ranges from 4.875% to 5.x%, depending on credit and LTV. Reserve requirement is more than conventional mortgages.
Up to 15 financed properties allowed. For purchase, rent can be calculated based on appraisal.