How can you find investment property loans?


Quick Answer

In order to find investment property loans, a borrower should ask banks, mortgage brokers, correspondent lenders and online lenders to learn more about their mortgage programs, according to Zillow. This is because different mortgage programs have different requirements and also provide different loan costs and rates.

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Full Answer

In order to find the right mortgage program, the borrower should understand their specifications. A borrower should know what they are financing in, such as investment in property as personal residence, which gives the best financing terms and little down payment, as stated by Zillow, or investment in property for rental purposes. Both of these options require good credit and sufficient and constant income from the borrower. The borrower should also check to see if he or she have sufficient money and equity for a down payment for their property. The borrower should check to see if she has money to pay for fees, loan origination points, title insurance and other costs. After figuring out what the financing purpose is and checking if she can pay for the fees and down payment, the borrower should educate herself about rental property ownership, do her due diligence and compare the rates of the programs to find the most appropriate deal.

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