How to get loan for investment property
Welp, you’ve come to the right place if you are reading this! It starts with letting us help, guide and advise you on how to get a loan for investment property. Whatever the property, you can get funds that help you purchase and own real estate and create income for yourself.
We have access to all sorts of lenders that WANT to lend you money. We even have investment mortgage loans that don’t require income verification, just your future rental income to qualify!…yes it’s true!
Our goal is to help you get approved. Your loan approvals all depend on your application and financial standing.Obviously you need to be in good standing and be viewed by the banks as someone capable of repaying the loans. We’ve seen so many transactions and know what the banks are looking for.
Investment Property Checklist
Before we start, make sure you have the following:
- Driver’s License (ID)
- 25% or more down payment, depending on a program
- If your income is stable and has enough capacity to sustain a mortgage payment, we’ll need you W2 & paystubs (or Taxes if self-employed), otherwise, no income verification required, we’ll just use your future rental income to qualify you
- Fico 680+
- 2 most recent months of Bank Statements to show enough funds for Down Payment + Closing Costs + Reserves
Those are the main things needed. Once you check those off your list, we are almost there.
A lot of Banks will require you to have a primary property owned before purchasing Investment property, but not to worry! In out arsenal we got programs, where even first-time home buyers are eligible! Pretty amazing, isn’t it?