We can broker residential or commercial loans on investment properties. If you are buying a 1-4 unit home, you would apply for a residential loan. If you are applying for a 5+ unit property, you would apply for a commercial loan.
If you are applying for a residential investment property, plan on making a minimum 20% down payment; interest rates are better at 25% down, so you may want to put more down. Closing costs may be a little higher, especially if an appraisal is required.
The lender could require a rent schedule or operating income statement in addition to the appraisal, interest rates tend to be higher on investment properties, too.
If you are purchasing a 5+ unit property, a strip mall, office condo, or even a gas station, we can help you finance these purchases. The terms of these loans will depend on what you are buying and your experience in the area.
Give us a call and we can help you pick the right loan for your business. We offer a variety of products and services, ask us how we can assist you today. We work for you, not the lender.
