Investment properties are real estate properties that the owner has purchased with the intent of making a return on investment from the resale of the property, from rent, or both. It is not the owner’s primary place of residence.
Investing in a property can be long-term, as in the case of a rental home, or intended for shorter terms, like buying a home to remodel or renovate and sell for a profit (rehabilitation). However, you choose to use your investment property, the first step is deciding which loan program is best suited to your needs. That’s where Supreme Lending Willmar comes in. Our team of seasoned professionals will help guide you through the process so you can understand the different types of property investment loans that may be right for you.
*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 you’re making a long-term investment in a rental property or flipping a house, you’ll need a mortgage professional with experience to understand your specific situation. Supreme Lending Willmar has many types of loans available for investment properties, and our efficient team of professionals can guide you through the process.
Flipping a house or looking to earn passive income through a rental property? Whatever your dreams for investment properties are, securing a loan may be your next step. If you’re just starting out, you might have a few questions. To learn more about Supreme Lending’s loan options for investment properties, check out these common questions and answers.
The best loan for you depends on how you plan to use your investment property. If you’re looking for a long-term investment, Conventional loans may be your choice. Lending needs vary depending on the property type and how quick you’re looking to sell. Supreme Lending Willmar has investment property loan programs with benefits like fixed-rate and term flexibility. Let our experienced team help you find the best option.
These types of loans are typically intended for well-qualified borrowers as the guidelines are a bit stricter. Current debt, creditworthiness, and savings will be considered as part of the loan process. On application, you’ll be required to show proof of income and a healthy debt-to-income ratio. Get ready for a larger initial down payment compared to other loan options. You can expect a minimum of 15 percent down payment, but it’s a generally good idea to put 20 percent down.
To find out more about mortgage basics and the different types of loans we offer for investment properties, check out our learning center. You can also get answers to more FAQs, too. Feel free to contact us any time.
Check out your investment property loan options now. Our knowledgeable team knows the ins and outs of the loan process through years of experience, so we can match you with the right mortgage to make your investment dreams a reality. We’ll guide you through every step of the process. Our streamlined service gets you closed and funded quickly. Contact us today!
