What is an Investment Property Loan?
An investment property, unlike most residential properties, is a property that is not your
primary residence and has been purchased with intent to generate revenue, either through the
future resale of the property, rental income or both.
An investment property can be a long-term project or an intentional short-term investment such as
in the event of flipping, where real estate is purchased, remodeled or renovated, and sold at a
profit.
Tips for Buying an Investment Property:
It is important to be patient and well-informed about the market value of the property you wish
to purchase. Selecting real estate that is more likely to increase in value is the most
important decision you will make, therefore, buying at the right price is crucial.
Before you purchase the home, have a professional building inspector perform an in-depth
inspection of the property to find any potential problems as this may hinder your profit
potential. Thereafter, it is recommended to do an in-depth inspection annually.
Investment properties usually accompany a higher interest rate. Be prepared to put down at least
20 percent of the property price as a down payment on the loan and ensure that your credit is in
good standing.
Why should you choose SunwestInNewJersey?
Our team offers a 24-hour loan center for future home owners who don’t have time to apply
for a loan during regular business hours. We offer quick loan approvals and provide our clients
with the best loan options for their needs and financial situations. Our team members are
well-versed in Investment Property loan rules and requirements and will ensure you are
knowledgeable about our mortgage process prior to committing to a loan.
For any questions about the Investment Property loan process or any of our other home loan
services, give our team at SunwestInNewJersey a call to speak to a local team member who can
answer all of your home loan questions. Contact Us Today!