The answer to this question will depend on the type of loan you are looking for and what your buying needs are.
There are investment loans available with a very small down payment (starting at 3% for a conventional loan), where all the verification are needed (income, bank statements, etc) and there are also loans with a bigger down payment of 25-30-40%, but very little docs needed to qualify. The more you invest in your own property right away, the more confident Lenders will feel giving you a loan and more favorable terms. Of course, other factors still apply, such as: your credit score and credit history and your capacity for a mortgage payment every month. Interest rates vary as well. But essentially it is your choice as a Borrower to pick the program that best suits your needs and wants.
We are here to help you in this process.
Obviously loans like this require some sort of financial standing that qualifies you for these loans. What are those qualifications depend on the lender, the program, the borrower and all these combining factors all create what you look like to the banks and lenders. If you are willing to go through the process, provide information and more we’ll help you best prepare and get approved for investment lending.
We have all sorts of investment loan programs that can help you. We even have mortgage loans that don’t require income verification, just your future rental income to qualify!
Whats the Catch? Sounds too good to be true?
There are no catches, gotchas or scams here. We are mortgage professionals that help anyone looking to get loans for real estate investing through our network of banks and private lenders. What we do is prepare you for bank analysis.
…believe it or not, most people think these loan programs are only for “the rich” or those with lots of cash or amazing credit. While yes, it’s great to be in any (or all) of those categories, the main point is if you are interested and want to get rental property mortgage you need to start somewhere and have someone that can show you where you stand, what you need, and if you are ready to get approved.