We offer a variety of investment property loans for qualifying residential rental properties.
What’s an investment property loan?
Investment property loans are used for the purchase of second homes and investment properties, including one- to four-unit residential properties and vacation homes. We offer a variety of investment property loans to suit nearly
every need including:
Our government 0% down for VA (Veterans) loan or our government 3% down FHA 203k loans for first time home buyers looking to purchase and live in a mutli-unit home and rent the other units to tenants; this loan is designed for the purchase and rehab cost of a home.
Hard money loans for investors looking to buy, rehab for flip home(s) for quick a profit.
You can also refinance the equity in your current home(s) to buy additional properties
To learn more about real estate investment loans and current investment property loan mortgage rates, contact a mortgage loan officer.
Do your homework before buying investment property.
Investing in real estate is like any kind of investment — it’s wise to do your homework and assess both the benefits and the risks involved. If you’ve been thinking about buying investment property or taking on rental property loans,
consider the following:
Determine the type of property you want to invest in: rental homes, condominiums and so on.
Decide if you want to invest short- or long-term.
Ask yourself if you’re ready to be a landlord.
If you decide to purchase a rental property, research the property thoroughly to determine if the investment will be profitable.
Contact a loan officer to learn more about your mortgage options for your investment property loans.
The investment property loan process
If you plan to finance your investment property with a mainstream home loan (likely a conforming loan), the process will look very similar to any other home purchase. You will:
1. Get preapproved for financing
2. Find a home and make an offer
3. Apply for the loan
4. Lock an interest rate
5. Go through the underwriting process
6. Sign final papers on closing day
As when buying a home for yourself, it’s a good idea to get preapproved for a mortgage before you begin house hunting. That way, you’ll know how much home you can afford. And, more importantly, the seller and seller’s real estate agent will know you’re making a serious offer.