Applying for a Mortgage Loan
What kind of loans do the banks have for single family homes up to four units for non-owner occupants?
There are loans for owner occupied and non-owner occupied buyers. There are loans for buy fix and sell properties; there are loans for buy fix and hold properties too. As the investor, you need to find out what kind of products each bank has so that you know which kind of loan you are interested in.
Once the bank explains what kinds of loan products are available, you want to find out the terms they have for that product. Some of the terms to look into are the loan to value, the interest rate and the length of the loan.
Once the bank determines the loan to value, rate and the term of the loan, then you can estimate the loan amount they will give you for…
View original post 239 more words