A real estate property that is not occupied by the owner and has been purchased with the intention of earning a return on the investment either through rent, the future resale of the property, or both.
An investment property can be a long-term endeavor, such as a rental home, or an intended short-term investment in the case of rehabilitation (where a property is bought, remodeled, or renovated, and sold at a profit). However you plan to utilize your investment property, the first step is deciding what types of loans for investment property are best for you. That’s where Supreme Lending comes in. Our team is here to help you understand your loans for investment property options.
*Supreme Lending is not a licensed CPA or Tax consultant and therefore, cannot determine if your mortgage interest will be eligible as a tax deduction per IRS code. You are advised to contact a tax professional. This in no way implies you are guaranteed a tax credit.
Whether flipping a house or making a long-term investment in a rental home, you need an experienced mortgage professional to understand your unique situation. Supreme Lending in Dallas has many types of loans for investment property, and our skilled team of professionals can assist you through the process.
Are you looking to enjoy cash flow by earning a passive rental income or successfully flipping a home? If your dream is to own an investment property, loans might be the next step — and if you’re just starting out, you probably have questions. Learn more about loans for investment property at Supreme Lending through these common questions and answers.
Supreme Lending has a variety of loan programs available. The best one for you depends on your plans with the investment property. For people who invest long-term, a conventional loan may be best. There are condo financing options available, too. When planning to sell quickly, lending needs vary. Supreme Lending has investment property loans with fixed-rate options and flexible terms. Our team of professionals can help you find the right loan option for you.
Investment loans for rental property are for well-qualified borrowers. These loans have higher rates of default, so the requirements are a bit stricter. As part of the loan process, your debt, credit score and savings will be considered. When you apply, you will be required to show proof of income and a healthy debt-to-income ratio. Be prepared for a larger down payment than some other loan program options. The lowest down payment you could expect is 15 percent — you should plan on putting 20 percent down.
Check out our learning center to find out more about mortgage basics and the different types of loans for investment property. You can get answers to other frequently asked questions as well. Feel free to contact us for help at any time.
Discover your investment property loan options right away. The mortgage pros at Supreme Lending can match you to the ideal loan to meet your investment goals. We understand the loan process and have experience guiding investors through every step. Our service is streamlined to get you closed and funded quickly. Contact Supreme Lending today!
