If you ever thought of or have interest in real estate investment, you’re reading the right post! We work with real estate investors and would love to learn about your unique situation to see what we can do to help fund your investment. Below are a few options that may work for your situation:
Homestyle Renovation Loan
This loan type aim at financing an owner-occupied property that has one to four units. The owner lives in one of the units and could rent out the other units to be cash-positive from the start. The beauty behind the Homestyle Reno loan is that you can add renovation costs into the loan, which reduces your up-front costs on the property. Your monthly payment is higher, but you are able to get a renovated investment home with little down.
203k Renovation Loan
The 203k Renovation Loan is very similar to the HomeStyle Renovation in terms that it allows for a 1-4 unit primary-residence renovation and purchase in one loan. There are pros and cons to both the 203k and the HomeStyle, so we will guide you through the best program for your specific scenario.
Cash Out Refinance
Depending on how much equity you have in your current properties, a cash-out refinance could be a great investment tool for you to use! The big advantage of a cash-out refinance is that you are essentially paying cash for your new investment, which means that there is no lending limitation on your new investment purchase.
In the end, we are going to help guide you into the best possible mortgage for your unique situation. Reach out to us today to get started and see what your options are!