Considering the leap into investment property ownership but uncertain about financing? Exploring a loan could be your pathway to purchasing a property that not only complements your portfolio but also generates income.
 The journey to securing a loan for an investment property does differ from that of buying an owner occupied property, and requires a different approach and understanding.
Navigating the path to investment property financing involves several critical steps, beginning with the choice of financing. Mortgage options are wide ranging and your broker will be able to run you through the offerings from banks, credit unions, and online lenders, offering competitive terms up to 30 years.
For loans on investment properties, you’ll need a good credit score, usually higher than for a home you plan to live in. This is because these properties are seen as more of a risk. To improve your credit score, try paying off debts and always paying your loans on time.
Working with a mortgage broker can make getting an investment property loan easier. They can help you look at different loans to find the best one, guide you through applying, and talk to the lender about the loan terms for you.
Getting a loan is a big part of investing in property. By knowing what loans are out there, working on your credit score, and having a mortgage broker help you, you can get the financing you need to be successful in real estate investing.
As home loan brokers dedicated to finding the best options for our clients, we want to remind you that eligibility and approval for mortgages are subject to standard credit assessments. Not every applicant will qualify for all loan amounts, term lengths, or rates.
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