Tips for Financing Your Investment Property

By
Real Estate Broker/Owner with The Irvin Group~Remax Accord, Irvin Real Estate, Inc PM Cal Bre# 01146115

Tips for Financing Your Investment Property

Tips for Financing Your Investment Property2017 is literally right around the corner. Do have a resolution to invest in the New Year, in Contra Costa County? 2017 is your time to shine and make your dreams and aspirations come true in the real estate market. Interest rates are remaining low and the investment market is booming in demand. To ensure you are ready, here are some tips to prepare for financing your investment property.

The Down-payment

This is a very important factor to consider when investing. Securing this 20-25% down-payment helps insure you to get a traditional loan, and possibly even a better interest rate.

Is Your Credit Score Ready?

This may sound like a given, however, it is important to go over before headed to the loan officer. A higher credit score makes you a desirable candidate for an investment loan. It also can save you from a fee for the loan based on the score. If you are looking for a good number to start with, 740 is a safe number you can take to a lender.

Neighborhood Banks

Often times, your friendly neighborhood bank can be the best option for you. Maybe you have extenuating circumstances but are still a great candidate for a loan? Maybe you don’t quite have the whole down payment? Big banks can have more red tape to get through versus a smaller or more independent bank. Consider your own situation and decide what is right for you. Remember, it is your choice!

Look for Profit

You want to be sure to secure the right investment property that will bring you profit. Renovation funds can be secured through home equity lines of credit, credit cards, and in some cases, life insurance policies. These options can bring more risk so just make sure it is right for you and worth the investment if you go these routes.

This Tips for Financing Your Investment Property information is brought to you by: The Irvin Team, Your Contra Costa County Real Estate Investment Experts!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
California Contra Costa County Walnut Creek
Groups:
REO
Property Management
Posts to Localism
Broker Price Opinions
Hyper-Local
Tags:
real estate investment
financing investment property
contracostacounty

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
121,332
Shahar Hillel
Augusta Financial Inc. - Stevenson Ranch, CA
Mortgage Consultant, Loan Officer.

Planning ahead and preparing is very important when it comes to getting approved for a loan. Happy New Year.

Dec 29, 2016 10:12 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
35,109

Matt Irvin

Experience & Dedication
Ask me a question
*
*
*
*
Spam prevention

Additional Information