Investment Property
Acquiring an Investment Property
Buying a property and renting it out can be a good way to steadily build wealth. Whether you're looking to acquire a condo, house, multi-unit property to add to your investments, planning a successful venture starts with understanding your mortgage financing options.
There are unique aspects to financing rental properties: mortgage lenders typically expect a down payment of at least 20% for a conventional mortgage. Another option is to draw on the equity from your principle residence or another rental property. What many prospective buyers don't know is that there are lenders that will allow up to 80 per cent of monthly rental revenue as "other income" when approving a buyer for financing. Lenders have various rules when using rental income to help you qualify. Allow us to help you find the “right” lender.
At Invis-Feisal & Associates we can introduce you to your mortgage financing choices and can offer guidance on the ins and outs of financing investment properties. In addition, your accountant can advise on the tax implications and risks involved in your investment, and your realtor can help with collecting sound information about local rental and real estate markets.
and start building your wealth.
11 years ago I used Feisal for the first time. Since then, I have used him repeatedly because he is always on top of what's going on in the mortgage industry and can indiscriminately recommend the best rates for my situation. Rick G.
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