Find out what an investment property loan is, and how it could help you qualify for a home loan.
We continue to see a strengthening of the home loan market. There’s new programs being put back in place by a lot of these lenders.
And I’m a broker, so I reach out to all these different lenders and see who’s got the best programs and rates for you. One of the programs that seems to be coming back more and more frequently with more lenders is this idea of an investment property loan, where they underwrite the loan based upon the cash flow of the property and not necessarily the monthly income of the actual owner, the person purchasing the property. This can be really helpful.
They look at credit and assets, and there is a down payment required, but they don’t look so hard at the income of the actual client that’s buying the home. That can be really, really helpful to certain self-employed people, or people who just have a difficult time of getting approved with a traditional, conventional investment property loan.
And this available right now! These are not as easy as a conventional loan, but they do work, and we’ve done them. Just plan on a little more time in the process, but they are available, and they can be very helpful. So feel free to give us a call, we would love to help you through one of these!
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