Investment Properties
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 residency. 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 1stAvenue Mortgage consultant as your first step in becoming an investment property homeowner.
At 1stAvenue 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.
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