Investment Property Loan Requirements
So you’re looking for a loan and are wondering what are the investment loan requirements? First off, congratulations on your journey as wealth building through real estate has been the tried and true method of generating wealth. At our company, we work with potential investors to prepare them to access funding for investment properties.
Remember, It’s not about how much you make, but your debt-to-income ratio. That’s what makes or brakes the deal. We will calculate this ratio for you after we run your credit. We’ll help prepare and advise you on how you can better prepare yourself so when banks analyze your information, you get approved.
Our goal is to help you get there.
Investment Property Loan Requirements Checklist
Some of the things you’ll need to get ready are:
- 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 main things. 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?
Learn more about investment opportunities here ->
Or if you are ready, let’s talk.