financing: Contemplating Buying an Investment Property?
- 04/08/14 12:04 AM
Have you been thinking about purchasing an investment property and becoming a landlord? Getting a mortgage loan for a non-owner occupied property (NOO) is a lot different from purchasing an owner occupied property. Here’s a brief overview of the main differences to help you get started in the decision-making process: Down Payment: There are a few investors who will allow you to put 15% down with certain restrictions; however, mortgage insurance will be required, so it’s best to put 20% down. If you can spare to put 25% or 30% down payment, rate pricing will be a little better as well. Higher Interest Rate: To give you … (1 comments)
Have you been thinking about purchasing an investment property and becoming a landlord? Getting a mortgage loan for a non-owner occupied property (NOO) is a lot different from purchasing an owner occupied property. Here’s a brief overview of the main differences to help you get started in the decision-making process:
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