Serious real estate investors know the importance of financing options that ensure profitability and sustainability for their investment properties, which is why DSCR loans have gained popularity. Obtaining New Mexico DSCR loans can significantly enhance your real estate portfolio.
Purchasing a rental home for the first time in New Mexico may present some difficulty without DSCR loans. Still, without the proper assistance and resources, it can be a manageable endeavor that brings great rewards.
When you're looking for loan options in New Mexico, DSCR loans are one of the best choices, as they don't require personal income verification. Instead, DSCR loans look at the income of the rental property and its ability to service loan payments. By relying upon the property's cash flow rather than your own, DSCR loans make it incredibly simple to purchase investment properties.
Whether you want to refinance an existing loan or boost your rental income, Visio Lending is the premier lender for New Mexico DSCR loans. We never ask for personal income information: all you need is a credit score and an evaluation of the property's ability to service your debt. Get in touch today to learn how our flexible and prudent loan programs can assist you in meeting your financial goals.
Albuquerque, the largest city in New Mexico, presents a promising opportunity for real estate investors seeking a DSCR loan. A residential rental property in Albuquerque can command rent of about $1,500, while commercial rental properties make about $20.60 per square foot for either retail or office space.
Santa Fe, the capital city of New Mexico, is another area worth considering for real estate investors. The benefit of a rental property here is the strong demand for housing due to the city's thriving tourism industry. In fact, Santa Fe is one of the most expensive areas in the state: the average home value is $566,455.
Your property's ability to generate sufficient cash flow is quite high, with an average cost of $2,700. If you're looking for commercial real estate investment properties, office spaces make around $26.49, an increase of over 4% from last year.
Las Cruces, located in the southern part of New Mexico, is another area that investors should consider adding to their real estate portfolio: home prices have jumped over 12% in the past year, now selling for an average of $349,000. Median rent for all residential properties is about $1,600, while commercial spaces make around $16.50 per square foot.
Check out some of Visio Lending's recently closed DSCR loans in New Mexico.