Investing in residential real estate continues to be one of the most popular ways to build wealth and diversify an investment portfolio. But finding the right form of financing is critical when it comes to ensuring your investment works for your needs. At Luxury Mortgage Corp®, we are pleased to offer a selection of investment property loan options, including Simple Access™ home loans, to help our investment borrowers find a solution that is accessible and affordable.
Curious about the different investment property loan options? Let’s take a look at some of the ones we’re currently offering:
Conventional Investment Property Mortgages
Not all investment property loans are created equal. In many cases, a conventional mortgage may be ideal, but it may not be for everyone. Conventional mortgages are home loans that are not guaranteed by a government agency (such as the Federal Housing Administration, Department of Veterans Affairs, etc.) If you already have a conventional mortgage on your current home, you’re probably pretty familiar with how they work. They’re the typical industry standard when it comes to home financing, and most of them require a down payment of at least 20% if you want to avoid paying pricey private mortgage insurance (PMI).
One key difference between using a conventional mortgage for your primary residence and using one for an investment home, is that the 20% down payment may be required in order to qualify for the loan at all. Investment properties are riskier to finance, so most lenders will want a loan-to-value ratio of 80% or less. At Luxury Mortgage, most of our rental home loan solutions require between 20-25 percent down. Interest rates may also be higher for an investment property loan, when compared to a conventional mortgage for a primary residence.
Luxury Mortgage Investment Property Loan Options At A Glance:
- 30, 20, 15 and 10 year fixed rate terms available
- Adjustable rate mortgage (ARM) options with 3, 5 or 7 year introductory rate periods
- Jumbo financing available for loan amounts exceeding today’s conforming loan limits (may vary by state, region, etc.)
- Rate-and-term and cash-out refinancing options available
If you’d like to learn more about our conventional mortgage options for investment property, feel free to reach out to us today for a free rate quote and consultation.
Investor Cash Flow Mortgage
Our Investor Cash Flow Mortgage program is a great alternative to conventional investment property financing. This program may be ideal for borrowers who do not meet the qualification guidelines for conventional investment property loans, those who may be new to investing in rental property, and those who have inconsistent income and or employment documentation.
The Investor Cash Flow Mortgage’s shining feature is that qualified borrowers can use the projected cash flow on the subject property to qualify for the new loan, rather than having to provide income and employment documentation. No tax returns, paystubs or bank statements are required.
Another great feature of this loan option is that there is no limit to the number of properties financed, so this program may be a great solution for established investors who want to expand their portfolios.
Here’s a quick breakdown of the program’s highlights:
- Borrow up to 80% of the property value
- Credit scores down to 580
- No employment or income documentation required
- Loan amounts up to $4,000,000
- Competitive rates
For more information and detailed qualification guidelines, or give us a call toll-free.
Call us today: (888) 379-0303
Four Landmark Sq. Suite 300
Stamford, CT 06901