Investment Property Mortgages in Gilbert
If you are determined to purchase real estate for investment purposes, you are going to need the services of a mortgage broker. A broker will connect you with the mortgage lender you need to secure your purchase.
When it comes to brokerage firms in Gilbert, there are few as reputable and hardworking as Pilot Mortgage LLC. With us as your advocates, you will secure a mortgage with low rates and the most favorable terms.
Put yourself on the path to financial prosperity today. Call us at (480) 320-2322 to schedule your consultation.
What Is an Investment Property?
An investment property is a piece of real estate purchased for the purpose of generating income or securing capital gains. These properties fall under the categories of residential, commercial, and mixed-use. Mortgages for each type of real estate come with their own terms, and down payments for commercial mortgages may be higher.
Many individuals are drawn to income properties for a variety of reasons. For one, they offer a lower-risk alternative to investments to stock market equity. What’s more, with the help of tenants, a mortgage can essentially pay itself.
If you have any questions about down payments or rental property mortgage rates, we invite you to contact our team at your convenience. Our brokerage firm is always looking to help another borrower enter the rewarding world of real estate. Call us today.
Can I Get a Mortgage for an Investment Property?
For most investors, the biggest challenge to procuring an income property is securing a mortgage. While there are mortgages available for the sole purpose of financing investment properties, they are different from conventional homeowner’s mortgages.
For example, investment property mortgages for residential properties that are not owner-occupied may be underwritten differently than a property occupied by the owner. Properties with more than 5 units may also only qualify for commercial financing.
How Much are Down Payments for Income Property Mortgages?
Down payments for investment mortgages are typically higher than first-time homebuyers’ mortgages. For units of a certain size, lenders typically ask clients to put 20% down on a property. If you intend to occupy one of the units in your property, your down payment has the potential to be as low as 5%.
When you make a down payment of less than 20% on your mortgage, you will be required to purchase mortgage default insurance (also known as CMHC insurance).
Are Mortgage Rates Higher for Investment Properties?
Like most mortgages, your interest rate is determined by your credit score and the diligence of your broker. With us as your intermediaries, you will secure the best interest rate available to you.
Schedule Your Investment Mortgage Consultation Today
With an investment property, your capital gains and income will either be substantial or insignificant. It all depends on the rates and terms of your mortgage.
Make sure your gains are substantial. Make sure you work with us. Request our services by calling (480) 320-2322 today. We cannot wait to work with you.