Tag: #InvestmentProperty

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INVESTMENT PROPERTY – HOW MUCH TO PUT DOWN?

Are you thinking about buying an investment property in 2024? You hear interest rates may be coming down, and property values have leveled. You may be concerned that if rates go lower, more buyers would enter the market thereby driving prices up and making it harder to purchase a property. So, now may be a...

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COUNSEL MORTGAGE CLOSES $3.8 MILLION LOAN TO CONSTRUCT RETAIL CENTER

    It’s not for everyone, we admit.  But for those astute enough, aggressive enough, and pre-disposed to the commensurate high rewards, the effort is worthwhile. Case in point: We recently closed a $3.8m loan for an investor/developer to construct a retail center in the west valley. (A construction loan in this economy?  And a...

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CONTRIBUTIONS TOWARD CLOSING COSTS

  Contributions toward closing costs allow costs at closing and prepaid expenses to be paid by interested parties to the transaction. So, if you only have the down payment, or are looking to do a no down payment loan and do not have much cash, you can negotiate to have the closing costs paid for...

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WHAT IS MORTGAGE FRAUD?

When you are purchasing an investment property, apply for an investment property loan. Do not purchase an investment property and apply for a second home loan for the sole purpose of getting a lower interest rate. To do this would be mortgage fraud.   Here are a few examples of how this can affect you:...

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INVESTMENT PROPERTY PURCHASES AND QUALIFYING

If you are going to purchase an investment property, you want to make sure the rental income covers the mortgage payment. In addition, you should budget a cushion, i.e. rental income that more than covers your mortgage payment and gives you some profit each month. You can put the profit aside and keep it in...