Let Us Be Your Investment Financing Partner
We offer financing options to accommodate borrowers seeking to own residential rental property.
To be successful, what you will need to know first is:
Perhas the greateest reason to buy an investment proeprty is it will provide ongoing income to pay the mortgage and maintenance costs, and may provide tax benefits using depreciation.
As experienced and polished professional in residential financing, we are your go-to mortgage advisor for these mortgages as well. We can run the numbers and look at possibly using the equity in your current home to buy rental property. A loan originator will go over all available options to meet your needs and goals.
Keep mind that an investment property loan is different from buying a primary residence s in three main aspects:
Down payment: A 25-30% down payment is not uncommon for an Investment property. Some will allow just 20%.
Interest Rate: Mortgage rates are typically higher than an owner-occupied property.
Underwriting: The underwriting criteria and calculation are more scrutinized than primary residences.
30-year Fixed Loan. A 30-year fixed is still the most popular loan because the payment never changes. And the 30-year term keeps those payments as low as possible!15-year Fixed Loan. You'll own the property free and clear in half the time with this option, and save thousands in interest in the process