Alternative lending products are becoming increasingly popular
With the long-overdue chance to witness firsthand new directions in the mortgage sphere, LaCentra was surprised to see a few trends emerge.
Increased demand for alternative loan products is a firm trend set to continue. LaCentra points to RCN’s long-offered Fix and Flip program as a good example.
Despite a scale back over the last year or so in the overall percentage of requests for RCN’s Fix and Flip product, an alternative lending product for real estate investors, mortgage brokers have recently been seeing a substantial increase in demand for this program. As we climb our way out of the pandemic investors and brokers are looking to the private lending space for answers, LaCentra illustrated.
“We are seeing a move towards a renewed interest from brokers and investors in our Fix and Flip product. During the last year or so we saw a greater demand for long-term loans and a trend towards single-family rentals.
“As residential refinancing slowed down, we are now seeing that mortgage brokers are looking around and asking what the next big thing is,” LaCentra stated.