What kind of Invetsment loans are available for Rental property?
We are wanting to apply for a mortgage to hold what will be our 2nd investment property. We currently own our home & have 1 leasing property. But, we do not have the cash unfilled for the required 10% down payment for an investment loan. Since the property is very nearby, my husband and I would be able to categorize it as a following home hold for personal use. Our question is: If applied for as an investment property, are there 0 % down – type investment loans we may possibly look at? (we are not wanting to use equity on the other properties…one has been used to that extent already for home improvements). If applied for as a 2nd home, what are the requirements for that type of loan?
They are different types of loans unfilled out there. Most of them are dependant of you personal financial situation. The best way to really find out what is unfilled to you is to stop by several mortgage places and evaluate what they have to place forward
-J