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What To Do To Successfully Finance Investment Properties
What To Do To Successfully Finance Investment Properties
You have your house for sale in Ballantyne completely paid off and now you’re looking to make extra income. Purchasing investment property is an excellent choice and produces a steady stream of income for years to come! Read this article to learn what to do to successfully finance investment properties and live the plush lifestyle you’ve always dreamed of!
Have a Large Down Payment On Hand
Investment properties are for financially well established families. Mortgage insurance will not cover investment properties, so it is a must to have at least 20 percent down.
If you can manage 25 percent down, your interest rates could be significantly lower depending on the borrower you choose for a home for sale in South Charlotte.
Stellar Borrowers Win
Two primary factors equate to a stellar borrower. The first is your credit score. To get the best interest rate possible, you generally want a credit score greater than 740.
The second factor is your cash reserves. Lenders for investment properties are looking for candidates that have at least 6 months worth of funds to cover both personal and investment expenses. They want to make certain that you can financially handle a circumstance where ... more

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