Investment Financing that is Available to Portland Real Estate Investors!
In our blog today, we decided to talk to Steven Seim from Directors Mortgage about how a real estate investor in Portland might be able to finance the purchase of a rental property. There are a number of financing plans available for buying income property.
Most people don’t realize how easy it is to qualify for a loan that enables you to buy income-producing property. There are two important things that you need to know. First, in today’s market, you don’t need to have a huge down payment. You can put down a minimum of 15 percent of the purchase price and still qualify for a loan. Second, you can use the market rents, or the average rents in your property’s area, to qualify for the loan. Many lenders will consider that rental income when determining whether you qualify for a loan.
Interest rates are really low right now, which is good news for property investors or people who are considering buying an investment. It means you will be able to earn steady cash flow and you’ll also allow your property to appreciate over time.
If you have any questions about how to finance the purchase of an investment property, or you’d like to talk to an expert, please contact us For Portland Property Management Services.