Notifications
Clear all
General Chat
2
Posts
2
Users
0
Reactions
34
Views
Topic starter
How do I apply for a mortgage if I'm buying a second home or investment property?
Posted : 28/04/2024 3:15 pm
Here are some tips for applying for a mortgage for a second home or investment property
1. Determine if the property is a second home or an investment property.
2. Understand that lenders charge higher interest rates for second homes and investment properties.
3. Lenders require a higher down payment for investment properties than second homes.
4. Lenders typically set a higher bar to qualify for a second home or investment property mortgage than a primary residence.
5. You’ll need to prove you have enough income to pay two house payments for a second home or investment property.
Posted : 30/04/2024 10:13 pm