Most borrowers use their funds to finance a property for their primary residence. However, this isn’t always the case. Many borrowers choose to purchase other properties as well, on top of their primary residence as an investment.
Investment properties can have a wide range of benefits including certain tax benefits and cash flow benefits. The guidelines for investment properties are a little bit tighter for investment properties however, and so they are usually a bit tougher to qualify for. Also, they usually carry a little bit higher interest rates than a comparable loan for a primary residence.
We have a vast product selection for investment properties. We have the typical conventional channels, but we also have Non-QM, bank statement and DSCR – Debt Service Coverage Ratio mortgages as well. These non-traditional mortgage options allow for some borrowers to get their loan completed when they might not have been able to under traditional programs.
Speak with a licensed professional today to find out more about these programs.
FINANCIAL DISCLOSURES: MakeWay Mortgage Inc. is a mortgage broker who is not an agency of the federal government, nor affiliated with your current lender. This is not a commitment to make a loan. All approvals are subject to underwriting guidelines and eligibility. Underwriting guidelines include but are not limited to: acceptable credit and or income history, property type, current homeowner’s insurance, equity position, property type, number of units, financial reserves, bank statements, financial statements or tax returns, insurance, occupancy type, number of financed properties, Debt Service Coverage Ratio, rent history, taxes, etc. Call to secure your pricing today!