The Top 10 Best Investment Property Lenders of 2024

Explore the Best Investment Property Lenders to Find the Best Fit

Investment property loans is an umbrella term for a variety of loan options for real estate investors or those looking to fund a purchase of or refinance an investment property. These loans can be conventional, FHA and Non-QM loans options such as DSCR loans, bank statement loans, fix-and-flip loans, construction loans and more. If you’re looking for financing, it might seem overwhelming with so many investment property lenders on the market.

In this article, we’ll be covering our top 10 picks for the best investment property loans and breaking them down by certain criteria. Our list looked at many factors to help determine who was considered, including reviews, experience of employees, audiences and loan types, product options, awards, overall brand message and more. 

Best for Conventional Low Down Payment: Rocket Mortgage

For investors that have limited capital to put down on a property, Rocket Mortgage is a solid option. Their conventional loans offer down payments as low as 3% with competitive rates. Since they follow the guidelines of Fannie Mae and Freddie Mac, they have loan minimums depending on the property type and the maximum is $2.5 million for jumbo loans. Rocket Mortgage has a wide variety of loan types and serves all 50 states, opening up the door to real estate investing to Americans from coast to coast. 

Rocket Mortgage | Defy Mortgage

Best for Large Commercial Properties: Wells Fargo

With a $681.8 billion commercial loan portfolio, Wells Fargo offers commercial real estate loan services for individual borrowers, institutional investors, financial institutions, internally recognized investment banks, and other third-party investment groups. Their competitive pricing on a full range of products and services makes them one of the strongest large commercial mortgage servicers in the industry. Their commercial financing serves primarily a mix of large corporations, mid-sized companies, governments, and some not-for-profit companies, so for real estate investors looking to purchase large commercial properties, Wells Fargo has the reputation and experience to guide you through it. 

Wells Fargo is one of the top investment property lenders.

Best for Veterans: Pennymac 

In 2023, Pennymac took the #1 spot for top VA lender according to Scotsman Guide with a total VA volume of $28.1 billion. They proudly support service members and veterans by offering VA loans with competitive rates. As one of the largest direct lenders and mortgage servicers in the country with 16 locations world-wide, Pennymac currently services over 368,901 VA loans and is committed to supporting military members. Their mission: Building the foundation of homeownership by enabling Americans to achieve and sustain their aspirations of home.

Pennymac is one of the top investment property lenders.

Best for Self-Employed: Defy Mortgage

Defy Mortgage is a non-bank lender with a simple, clear mission: to empower dreams, enrich lives, and elevate the mortgage experience for non-traditional borrowers, including self-employed individuals. They offer greater flexibility when it comes to lending requirements and criteria with several product options such as bank statement, P&L, DSCR and more. Defy recognizes that not all borrowers are the same, so they provide more options for entrepreneurs, self-employed individuals and real estate investors to verify their income, and allow options for real estate investors to use rental income towards loan qualification. 

Defy Mortgage is one of the top investment property lenders.

Best for Ground-Up Construction: New American Funding

New American Funding offers a one-time close construction loan that combines a traditional construction loan and a mortgage into one loan. This can save you time since you only need to apply and pay closing costs once. On top of that, New American Funding lets borrowers use their 12-month extended rate lock and float down their rate within the first 30 days of the loan. For investors thinking of building from the ground up, New American Funding is an option to consider. 

New American Funding is one of the top investment property lenders.

Best for Fix-and-Flip Loans: Kiavi 

For fast and reliable short-term fix-and-flip loans, Kiavi can close in as little as 10 business days to compete with cash buyers since no appraisal is necessary. Paired with competitive rates and an LTV of up to 95% LTC / 80% ARV, Kiavi’s short-term fix-and-flip loans are a great temporary solution for new purchases, delayed purchase refinance, or seasoned finance. 

Kiavi is one of the top investment property lenders.

Best for FHA: United Wholesale Mortgage (UWM)

Taking the #2 spot on the 2023 Top FHA Lenders list by Scotsman Guide, United Wholesale Mortgage hit $15.45 billion in FHA loan volume last year. With three different types of FHA loan programs, they’re well-versed in the FHA loan space and have options to fit the needs of different borrowers. UWM’s goal with FHA loans is to help more borrowers who may not qualify for conventional financing achieve the dream of homeownership. 

UWM is one of the top investment property lenders.

Best for Multi-Family: Fairway Independent Mortgage 

For multi-family property loans (5+ units), Fairway Independent Mortgage has plenty of options to choose from. If you’re overwhelmed with the options and unsure of what loan product might be right for you, their mortgage professionals can provide advice to help you make the best decision. Whether you prefer to go conventional, jumbo, or non-QM, Fairway Independent has loan options to fit the needs of different borrowers. 

Fairway is one of the top investment property lenders.

Best for Single-Family Homes: loanDepot

As the second-largest non-bank lender, loanDepot offers a wide variety of loan types for single-family homes across all 50 states. They are a direct lender, so they can control the entire mortgage process while keeping home loan rates low and closing 50% faster than the industry average. loanDepot’s goal with each borrower is to ensure they get the right loan for their current and future needs. 

Loan Depot is one of the top investment property lenders.

Best for Jumbo Loans: Chase Bank

For investors seeking to buy high-value properties, Chase Bank offers one of the highest jumbo loan maximums on the market. Jumbo loans are used for larger loan amounts not covered by conforming loan limits. Chase Bank has the expertise to help with loans up to $9.5 million and has interest-only jumbo loan options with a $5,000 closing guarantee (if eligible).

Chase Bank is one of the top investment property lenders.

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