There are ways and there are easy ways to obtain financing for a real estate property, an investment or rental property.
Nowadays, many homeowners are cashing out on the equity of their primary residence to get into the Short-Term / Vacation property rental business or mostly known as AirBNB or VRBO! Experienced investors and corporations are also rushing to purchase properties all over the USA to make them rentals. Don’t forget that if you have a rental property with equity, you can also do a cash out refinance to fund the down payment for your next rental property purchase.
Here are the easy ways to finance rental properties for real estate investors.
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Your Credit: As on any loans, the highest your middle credit score, the best chance to obtain financing and a good rate. It will make things easier.
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The Property: Finding the right property to make it a rental property is the second most important thing. Price and location are very important but most important is that the property rents for the same amount or more than your mortgage payment, taxes, insurance and any other costs.
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A Down Payment: 15%-30% will be required for down payment plus you have to have also some reserves on your bank or the stocks.
No Income and No Employment is required with these rental property financing loans. No Tax returns or pay stubs will be required. Your credit and the property will do the job.
Ready to start investing in real estate? or looking to finance your next rental property? Call us at (239) 908-3106 and one of our loan specialists can guide you through the process.
For a faster optzion visit now www.optzions.com and click on Exploring Financing Optzions to complete an application or to be pre-qualified without hurting your credit score.
Published on 2022-06-28 00:54:51