You may be thinking about buying an with
investment property. Owning an
investment property means that
the owner will not occupy the home. The
owner collects the rent as income.
If you're considering owning an
investment property, it is
important to discuss your financing options
with a professional. The guidelines for
owing a property for investment purposes are
different than owing a home for your primary
residence. For example the interest rate
may be higher for an investment property.
The number of units in the property must not
exceed 4 units otherwise that property
qualifies as a commercial property.
Qualifying for the property also varies from
traditional lending for a primary
residence. The homeowner can use a
percentage of the rental income to qualify
for the home loan. That's why it is very
important to discuss your finances with an
Action Mortgage consultant as your first
step in becoming an investment property
homeowner.
At Action Mortgage, our mortgage
consultants can provide you with many
options for financing your investment
property. Our mortgage products for
investment properties consist
of fixed-rate loans; one, three and five
year adjustable mortgages; and jumbo loan
amounts for high end investments.
