Buying Income Property

Let Us Be Your Investment Financing Partner

We offer financing options to accommodate borrowers seeking to own residential rental property.

To be successful, what you will need to know first is:

• Do you want to invest in single family homes, condos, or 2-4 unit residential properties.


• Is it going to be a short or long-term investment?
  


• Will you hire a property manager or will you be the landlord?
  


• Are you planning to fix & flip?
  

Perhaps the greateest reason to buy an investment property is it will provide ongoing income to pay the mortgage and maintenance costs, and may provide tax benefits using depreciation.

Why Get an Investment Property Mortgage Using 1st Nationwide

As an experienced and polished professional in residential financing, we are your go-to mortgage advisor for these mortgages as well. We can run the numbers and look at possibly using the equity in your current home to buy rental property. A loan originator will go over all available options to meet your needs and goals.

Keep mind that an investment property loan is different from buying a primary residence in three main aspects:

Down payment: A 25-30% down payment is not uncommon for an Investment property. Some will allow just 20% such as the DSCR loan.

Interest Rate: Mortgage rates are typically higher than an owner-occupied property.

Underwriting: The underwriting criteria and calculation are more scrutinized than primary residences.

Popular Investment Property Loans

DSCR Investor Loan. A no doc investor loan. No tax returns and no personal income verification. This program is offered on a 30-year or 15-year fixed, or 5- and 7-year Fixed ARMs. Qualify using the rental income.

30-year Fixed Loan. A 30-year fixed is still the most popular loan because the payment never changes. And the 30-year term keeps those payments as low as possible!

15-year Fixed Loan. You'll own the property free and clear in half the time with this option, and save thousands in interest in the process.