Congratulations! You have found the perfect real estate investment property for your specific needs. Now comes the part that can sometimes seem perplexing – financing it.
When it comes to financing an investment property – whether you are a novice or seasoned investor – the process can be rather daunting without the help of an expert mortgage lender.
In today’s market, even the most experienced investor should do their homework, complete an in-depth analysis and crunch the numbers to ensure they are making a sound financial investment.
Whether you are looking to increase your cash flow, invest for retirement or build wealth, having the right information can go a long way in your pursuit of an investment property.
The road to qualifying for investment home financing starts with Forthright Funding. We are committed to helping you confidently shop by guiding you every step of the way. Here is just some of the information you should consider before embarking on your real estate investment property journey – regardless of what size property you plan on purchasing.
Increased Financial Responsibilities
Loans for investment properties typically have higher interest rates, require larger down payments, and have different requirements for approval than owner-owned residences.You should also plan for other expenses including maintenance costs, cleaning services, repairs, insurance, utilities and homeowners association dues (where applicable).We recommend that you carefully determine if these expenses, in addition to your monthly mortgage payment, fit within your budget requirements.
Eligible Properties
Please discuss with your lender to determine which types of properties are eligible for your particular financing options. Different loans have different eligibility requirements.Just some of the loan programs we offer here at Forthright include FHA, VA, Conventional, Jumbo and Interest-Only – though some may not finance investment properties.
When you are ready to get started, simply fill out our easy to use online application to get pre-approved prior to beginning your property search.
Need a mortgage lender to answer any questions you may have? Then feel free to contact us at (855) 351-9522. We look forward to working with you!