Looking to buy your first single-family rental property? Well now is a great time to get an investment loan. Single Rental Loans have enormous advantages for certain circumstances when compared to conventional mortgage loans. These loans are based on your cash flow, not your personal income. And they are designed for people who plan on buying investment property and renting it out for a long time, which can give you financial stability and confidence.
Investment property loans are available f0r both first-time and veteran landlords.
Depending on the value of the property, you may be able to borrow between $75,000 and $1.5 million.
The property must be worth at least $100,000 in order to qualify.
For properties worth more than $150,000, personal debt to income (PDTI) can’t exceed 85 percent. For properties worth less than $150,000, PDTI can’t exceed 70 percent.