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Residential Investment Property

Maximize your return on investment with a portfolio loan tailored to your goals.

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Advantages of a Power Financial Credit Union Portfolio Loan

Up to 75% Financing

You need a down payment of just 25% to kickstart your real estate portfolio.

No Mortgage Insurance

You don't need to pay private mortgage insurance or an intangible tax fee.

Wide Range of Terms

Choose a repayment term of up to 25 years with flexible ARM loan programs.

Fast and Simple Process

We streamlined our approval process so you can start earning on your property sooner.

Details About Our Investment Property Loans

Rental properties can be an attractive investment. Power Financial Credit Union is here to help make your venture as profitable as possible.

  • Finance up to 75% market value property

  • Take advantage of repayment terms ranging up to 25 years

  • Funds available for one- to four-unit dwellings

  • All closing costs may be incorporated into loan**

  • No private mortgage insurance (PMI) required

  • Intangible tax fee waived for credit union members

Whether you're considering a beachfront home or a multi-unit building in a big city, our portfolio loans eliminate mortgage insurance requirements and offer other financial advantages.
 

Apply Now

Residential Investment Property Loan Rates*

Term Max LTV Rate APR
3/1 70% 2.875% 4.066%
5/1 70% 3.000% 4.171%
5/5 70% 3.250% 3.782%
3/1 75% 3.125% 4.315%
5/1 75% 3.250% 4.260%
5/5 75% 3.500% 3.871%


See our Simple Application Process for a Portfolio Loan

Step 1

Apply Online

Use our secure online form to provide your details and ideal home purchase price.
Step 2

Pre-Approval

If approved, we'll offer you a home loan amount and interest rate for your chosen loan term.
Step 3

Buy Property

With financing ready, you're now in a strong position to buy a property and achieve your financial goals.
Get Started

"Helpful, informed and intelligent about how to manage money, this is also an institution in which you walk in and are greeted by name. Ms Jaimungal was especially helpful."

– P.T. Savage

FAQ about Investment Property Loans and Portfolio Loans

Accordion Section

Answer: In many ways, an investment property or portfolio loan works the same as a conventional mortgage on your primary residence. You agree to borrow an amount of money and pay it back through your loan term according to your loan option.
 
At Power Financial Credit Union, we offer adjustable-rate mortgage (ARM) residential investment loans so you get a fixed rate and payment for the initial period of your loan, and then it adjusts with the markets. The total loan term may be up to 25 years.

Like other real estate loans, you can get pre-approved to find out how much you may borrow and what rate you'll likely get for your chosen ARM term.

The main difference is how real estate investors use the property:
  • Instead of living in the property, you usually find tenants to live there and pay you rent.
  • The rent your tenants pay should at least cover your monthly mortgage payment.
  • You will need cash reserves to pay for maintenance and repairs.
  • You may need to pay for advertising to find tenants or hire a property management company to select tenants for you.
Answer: There are two main ways you can make money by investing in real estate:
  • You may earn rental income each month if you charge your tenants enough to cover the mortgage payment and expenses, plus extra.
  • When you sell your home, you may make a profit if the home appreciates in value and you gain home equity. Just be aware your property could also lose value.
Before you buy an investment property, make sure you run the numbers to work out your likely return on investment or ROI.
Answer: Most portfolio lenders require a down payment of at least 25% of the market value of the property to qualify for an investment property loan.

This is because investment property loans are considered higher risk than conventional loans as you may also be making monthly payments on your primary residence or other rental properties.

Before you choose your portfolio lender, you may want to find out if they will continue to service your loan in the long term or if your loan will be sold on the secondary market to another financial institution.
Answer: You don't need to own a primary residence that you live in, but you must show that you're financially secure so you can meet mortgage payments in times when you do not have tenants in your investment property.

You'll need to provide documents including:
  • Tax returns
  • W-2s
  • Bank statements
Answer: Funds for an investment property can be used for a Single Family Rental, Condo, Townhouse, Duplex, Triplex, or Quadplex. No investment mobile homes.
Answer: A portfolio loan does come with closing costs, but you can add these costs onto your loan principal if you don't want to pay upfront.

Your closing costs may include charges like:
  • An origination fee and application fee
  • Title search and insurance to check for existing liens on the property
  • Appraisal fees
  • Upfront property taxes
Answer: No private mortgage insurance (PMI) is required. This is because it's generally only needed on conventional home loans when your down payment is under 20%.

In addition, the intangible tax fee is waived for credit union members.
Answer: To be eligible for a portfolio loan, you need to meet membership criteria for joining the credit union. It takes just a few minutes to join and then you can access a real estate loan and all our other quality products and services.

Our membership consists of those who live, work or go to school in Broward, Charlotte, Collier, Lee, Martin, Miami-Dade, Monroe, Palm Beach County, Hillsborough, Manatee, Pinellas, Sarasota, or St. Lucie counties.

We're also proud to offer membership to our Select Employee Groups. Employees of Ryder System, Inc. FPL/NextEra Energy, and members and employees of Bonefish & Tarpon Trust, no matter where they're located, are always welcome to join.

Take the Next Steps to Expand your Portfolio

Get Started Call Us: 800-548-5465 Contact Us

More Convenient Home Financing Tools

Adjustable-Rate Mortgage

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Fixed-Rate Mortgage

Relax knowing exactly how much your mortgage payment will be through your loan term so you can easily budget and plan for the future.
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Reverse Mortgage

If you're 62 and older, you can access funds and make no payments until you sell your home. The money isn't taxable and doesn't affect Medicare or Social Security.
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Page Disclaimers

*Eligibility for the lowest adjustable rate is based on loan to value (LTV), credit worthiness, ability to repay, credit score, and term of loan. Rates are subject to change at any time. Other conditions may apply. This annual rate of interest example takes into account a 30% down payment for a Residential Investment Property Loan with a 3 yr./6 mo. Adjustable Rate Mortgage of $350,000 at 30 years at 6.375%, you would make 36 fixed payments of $2183.54 at 6.455% APR. After that, the fully indexed rate of 6.375% will apply to the remaining 324 payments and may vary every six months. Payment amount does not include taxes and insurance. Actual payment amount will be greater.

**Eligibility for lowest rate is based on credit score, ability to repay, property value and term of loan. APR may be higher due to loan costs. Rates & terms are subject to change without notice. Max 75% Loan-To-Value (LTV). Closing costs can be added to principal balance financed. Applicable for mortgage refinances only. Maximum loan amount $510,400. Other conditions and qualifications apply.