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Mortgage Loan options for investment property? My fiance and I were not approved for a mortgage due to my bad credit (thanks to ex-husband). He was pre-approved for a mortgage on his credit and income, but only for 80K (he is 1099, therefore his AGI is much lower). Since I could not be approved, my income cannot be considered for a loan. So, my parents have offered to purchase the home we were looking at (their credit is impeccable) and rent to us on an rto basis until we are able to be approved. The home is an REO and listed at $108K. There is about $20K in repairs that need to be done before we could move in. The county website appraises the home at $158K. Are there loans available for a non first time homebuyer to finance the whole mortgage plus the repairs needed on an investment property? My parents would prefer not to co-sign (they were burned in the past).

Paid off investment home. Can I take a 1st mortgage on that property or must I go with a home equity loan? My brother and I need cash for a business venture and would like to take a loan out against an residential investment property that we co-own free and clear. Is our only option a Home Equity Loan? Ideally we would like to take advantage of the lower rates of a standard mortgage.

how can one change their residency status on their fixed mortgage loan-Exp:from primary to investment property? FHA loan 30yr fixed mortgage.

Which mortgage company is best rated for 40 year loans on investment properties? Are there any pitfalls? I am trying to refinance a second home that is an investment property. I do not intend to keep it for many more years and so 40 year refinancing made sense to me

What kind of Invetsment loans are available for Rental property? We are wanting to apply for a mortgage to purchase what will be our 2nd investment property. We currently own our home & have 1 rental property. However, we do not have the cash available for the required 10% down payment for an investment loan. Since the property is very nearby, my husband and I would be able to categorize it as a second home purchase for personal use. Our question is: If applied for as an investment property, are there 0 % down - type investment loans we could look at? (we are not wanting to use equity on the other properties...one has been used to that extent already for home improvements). If applied for as a 2nd home, what are the requirements for that type of loan?

Is there any programs for property managers to purchase investment properties with zero down mortgage? I would like to purchase a property for investment purposes (renting) but cant really afford 20 nor 10% down on loans. Is there any loans offered by banks that offer such help for investors?

If I just refinanced my home mortgage, can I finance a new investment property soon after? I just refinanced my home last month and got a much lower rate and payment. Of course, this means my mortgage was paid off and a new loan was initiated. Does this affect my credit in a way that would hamper me being approved for a mortgage on a new investment property?

I have a loan on a investment property that I stopped making payments on since June. I took a second mortgage? with a diiferent institution. I paid for couple of months the second mortgage, but I want to know if I have to continue paying the second mortgage if that house will probably foreclose?

How do you find banks to give LLC loans for investment properties? I would like to find some institutions that provide mortgage loans to an LLC but haven't been able to find any that don't require 40% down payments or something ridiculous like that. Is this the norm?

want to buy a rental property. Which bank offers best investment property loans w/ least down payment? Can anybody recommend a bank/mortgage company with the least downpayment. We purchased a rental this year and put 20% down. I would like to find a better deal

when purchasing an investment property is it better to use an equity loan or a new mortgage loan? looking for the best interest rate for a second property

Can I get laons for investment properties with my primary home have a mortgage and Heloc on it? I am new to this so I am not sure if I can have loans for investment properties on top of my primary home having a mortgage and Heloc on it?

Does personal income help to determine mortgage approval for investment property? I'm want to start investing in multi unit property but want to get a little more information as to what might be expected before doing so. Will my personal income factor in to the banks decision to approve. For example, if i made 30K a year is it possible to get approved for a 500K loan from the bank as long as the property, when fully rented, has the potential to pay the mortgage?

part of investment property paid from home loan - is interest deductible? we are in australia - to purchase our investment property we got a mortgage on the property for 85% of the value and the balance we drew from our existing home loan. Is the interest on the amount drawn from our home loan deductible?

how to take equity loan on investment home that has no mortgage due? I want to pay off all bills with a home equity loan from property bought for investment. Paid cash and dont have any mortgage payments. I recieve rent monthly from tenants, am on unemployment, and recieve ssi monthly. Can you help me?

Can you buy investment property using a first time home buyer type mortgage? I'm interested in buying a house to rent out, but am wondering if it is possible to get a loan that is not dubbed "investment", which usually requires up to 20% down payment and carry a higher interest rate than regular mortgages.

Investment Mortgage Loan Question: Cashflow is everything? I am buying a duplex and am trying to decide on financing. I have narrowed my choices down to two companies who are still accepting 10% on investment 2-unit properties. I would like to know which one to select and reasons for your opinions: Option #1: 90/10 loan with 1.0 pts @ 6.875% on a 30 year fixed conventional; plus PMI monthly payments of ~$840.00 Option #2: 80/10/10 loan with 0 pts @ 7.0% on the 1st and 9.14% on the 2nd, both 30 year fixed rates; no PMI, monthly payments of ~$778.00. With option #2 my cashflow will definitely be better and that is what I am trying to maximize. I know I am paying more in the long run but I know I can refinance in the future, as I am already buying this property at a 75-80% discount. Cashflow has to be a big factor when looking at loans, however, with a good rate of 6.875% on the other, I just want to make sure I'm not overlooking anything, taking the 80/10/10 over the 90/10. Please let me know your thoughts. Thanks! The payment in Option #1 INCLUDES the monthly payment AND PMI ($755.00 + 85.00). Option #2 has not PMI and thus not factored in.

Getting an investment property loan - the criteria? ? I'm a bit confused about how investment property loans work. Do they need to verify that you could handle the mortgage on your own without any rental income? Or do they take the potential rental income into consideration? We just bought our first house (primary residence) in February...a fixer upper, and we've made a lot of home improvements, so we're feeling a lot more confident about the buying process and how to make improvements. I have taken my state's real estate course and plan to become licensed as an agent. I work for a property management company so I work with tenants and rent collecting (and sometimes evicting) on a daily basis. We want to buy an investment property, but we had a hard enough time getting a loan for our own home (fairly good credit scores, hovering in the high 600's/low 700s) but my fiance is self-employed, which scared off a lot of lenders. However we've faithfully made our mortgage payments on time for the last 8 months, and paid a little extra toward principal, so hopefully that makes us look a little better? In our area, the types of homes we would probably be looking at for potential rental properties are in the $170-$200k range. We expect to have about $15-$20k as a downpayment. Income in the $40-60k range annually, depending on how my fiance writes stuff off on his self employment taxes. :P Is this remotely a realistic idea, or would we need much more of a downpayment? Thoughts? Landlord said: "Also, sorry, but there is NO WAY you can charge between 3 and 5k a month rent on cheap 170-120k property. Not in the real world." I don't know what you mean by this. $170-$200k in our area is not "cheap" for a single family home or duplex. Median home price is $200k or a little under. Also I don't know what you mean by getting 3-5k rent. I see single family rental homes in our area going from $1000-$2000/month depending on size and amenities.

We are buying an investment property. With little to put down, what is the best way to finance the property? We have a large amount of equity in our current house. We have no bills other than the mortgage on our current house. Is a home equity loan to get to the 20% down payment and then a conventional loan on the investment property itself the best way to go? Or is it best to finance the investment property itself rather than using the equity in the primary residence. We could finance 100% of the loan purchase price or do a secondary mortgage to come up with a 20% down payment.

Is it hard to get zero-down or 3 percent down mortgage loans now? I have good credit and stable job, and I just refinanced my current home at 4.65% fixed for 30 yrs and really lowered my payment. I'd like turn this current home into an investment property and then buy another home with zero or 3 percent down, 5 percent down, etc. Is it difficult at this time?

Can I amortize/depreciate "junk fees" on a mortgage for a rental property? I have purchased an investment property and I'd like to know if I can add those fees to the cost basis or amortize those fees over the loan duration. Those are the following fees I paid for when financing the property: - loan processing - loan application - underwriting fees All those fees appear in the section 800 of the HUD but are non-standard fees. I read IRS publication 527 but could not find any answer to this question. Thanks!

Currently have home mortgage as an investment property with a friend? he purchases a new car, does this affect me or mortgage in any way if he used his credit and his name? reason I am asking is because I went to refi my car and for some reason the loan officer noticed a new car purchased and was wondering if this had an affect becuase I was unable to refi - thanks for your time

Looking to hold an investment property for 7 years or less what is the best mortgage I should take? The property has 25% equity in it.. My FICO score is around 740. I run my own business so I will need to use stated income. What is best loan for me in this situation and what kind of interest rate should I be looking for? THANKS!

Investment Property? I bought an investment property somewhere in the Northeast in 2004. I took out a 80/20 loan and the interest rates on both loans is quite high. Both loans are 7 year ARMs. Worse, I believe that because of the recent pull back in prices, I might owe more than the house is worth; maybe $30,000 more. I don't know for sure. I am also collecting rent which pays the mortgage for now but anyone who has dealt with tenants knows how painful it is sometimes. I have been thinking about one of these options: 1. Put the house on the market and take a loss 2. Stay put and see what happens in the next year or so 3. Refinance to get one loan with a lower rate Help!

If I have an Investment Property that i'm currently receiving rental cash flow from, will that prevent me? from getting a mortgage loan for a house for myself to live in? I cureently live in an apartment and the Investment property I have was the first home I ever purchased. I have an opportunity to get more investment properties to add to my portfolio but I want to get a house for myself to live in. Should I get my house first or does it even matter? I have a 700 credit score if that makes a difference.

Can I release equity in my investment property to buy a home? Typically people will release equity in their home to buy an investment property. I want to do the opposite as I have a rental that is paid off, but no home. Can I take out a mortgage against the investment property to buy a home? I would rather be paying interest on a rental that is tax deductible, then just get another home loan with no deductions. This q relates to an Australian investment

Tax Question: Should I buy rental property with a mortgage or take out a home equity loan? I am buying a rental property for $50K. I will put 10K down so I need to borrow $40K I have 2 offers that will determine whether I will apply the mortgage interest on my schedule E for rental property or as an itemized deduction on my 1040. Home equity loan against my primary house at 6.09% with $300 loan processing fee. 15 year note - 1st years interest payment will be $2452 - I think this interest would be an itemized deduction. Mortgage for the investment property at 6.25% with 1 3/8 points. Total fee is $2100 including points. 15 year note - Ist years interest payment will be $2492 I think this would be an expense on my schedule E. I am at a 28% tax bracket and have no other mortgage on my primary house. To further complicate the picture I have $34000 in student loan debt and could roll this into my home equity loan. What would be best for my taxes? Take the home equity loan or a mortgage on the new property? Should I roll my student loans into the home equity loan?

Does USDA Rural Development grant mortgages on investment property? I know they do the guaranteed mortgages but someone recently told me they provide loans to people who want to invest in real estate (rentals, flipping, etc.) Has anyone else heard this?

Does anyone have suggestions on how I should purchase my first investment property? I live in Texas and I'm planning on buying a property to rehab. Unfortunately I don't have the money to pay cash so I was wondering if anyone could give me some information on other financing options. Should I go to a bank or a mortgage company? Are there special loans to apply for? I plan on starting a small L.L.C. company for my investment properties. Is there any government assistance for small businesses such as this? I don't really know anyone in the industry so I am having trouble finding a lot of the information I need.

What's the fastest way to clear my bills or lower my mortgage payments? I have a lot of credit card debt, student loans and a mortgage from an investment property in Oklahoma that's vacant. I need help! Badly!

What is the type of loan called that you used for investment property? For investment property you don't usually get mortgages, but you get a different type of loan. What is the name of that type of loan? Thanks

Refinancing an FHA to an investment property? Can you please tell me if there are any flaws in the following scenerio? Anything I missed? I can not find much information about refinancing an FHA loan into an investment property loan. Would this work? Is there anything I am missing? Such as you can't use a lump sum, or can't refinance from FHA to investment, etc. THE BACKGROUND + We purchased our townhouse at 150k 16 months ago. + Have made some minor & cosmetic improvements to it such as nicer paint, better flooring, appliance upgrades, etc. it presents MUCH better than before so I hope it would have slightly higher appraisal) + We bought using FHA. Home is legimately owner-occupied. I am just thinking ahead and really want a backyard soon. + Husband is on the title but income could not be used at the time due to lack of 2-yearjob history (he was a new immigrant at the time) THE PLAN + Refinance as investment property down to 75% loan to value - paying a lump sum of about $35,000 - $40,000 to help it get there if home value is still appraised at only 150k + Monthly payment (including taxes, PMI, etc.) would be reduced by about $200 a month. Is currently $1035. + PMI would go away then right? Reducing it by about another $50 a month? + Credit is not very good does this matter in a refinance? + Roll closing costs into the new loan + Rent to husband's parents at $1200 which is slightly below FMV + Can use 85% as future rental income (no 2-year history needed for FHA) = $1020 + Take a loss of about $93 per month (new mortgage including taxes of around $825 + insurance of $35 + HOA of $253) = 1113 and (expense 1168 - countable income 1020) = $93 + Go out and qualify for a new FHA loan on a SFR to be owner-occupied for good + This time include my husband's income assuming he then has a good 2-year work history

can i use my homes equity to purchase investment property? i have a 1st and 2nd mortgage on my home but i have enough equity to purchase or place a down payment on a second home. i'm looking at refi the 2nd mortgage for a line of credit but i'm being told that is not a good idea because if something goes wrong with the second home i could lose my primary home. am i better off getting a separate loan for the investment property?

want to buy bank own property need mortgage loan for $10.000 who can do this? the property needs some work but is a good investment i really need to find who can finance this loan for me

I have an investment property that had already reset it's rate to 7% and will adjust again in the nest 6 mos. I am planning to refinance with a 5/1 term since this is only an investment . what will be my estimated monthly mortgage on a loan of $ 370,000.00 and a rate of 7.5 %?

having a hard time refinancing investment property? I own a home which I now rent out due to having financial problems due to a few different reasons. Basically, I ended up with a really bad mortgage loan (yes, I have learned my lesson so please, no lectures). I put renters in it cuz I could not get the home sold due to bad housing market in my town. The rates on the loan will reset in a year and I am scared to death my payments will jump. Even with renters in it I won't be able to afford the home and I do not want to foreclose with innocent people in my home. I have decided after their lease is up I will probably just let the house go and foreclose. I have tried to get my current mortgage company to help me but so far no luck. I am hoping someone knows a good company that would allow me to refinance my rental property to get my into a fixed rate. The mortgage balance is around $174,000 and it is worth only 179,000 and I only make about $33,000 a year before taxes. My mortgage payment is $1400 and I rent it out for $1245.

can I get the home equity out of my rental property (no mortgage)? I purchased a rental property back to 2008, which was the cash deal (fore closure), and one question is, can I get the home equity out of this rental property, since it has no mortgage, has no lien on it, and the downside of the house value is limited, it seems that it is no way to find the information of which bank are willing to approve this kind of home equity loan? If no bank approve this kind of loan, what is the best strategy to get the cash out of this investment property, any idea or information? Thanks.

Living in investment property from primary residence? I bought a investment property and now I cannot pay the mortgage of my primary residence. When I applied for a loan, I signed a document that it will be an investment property. Can I just move in to this investment property and foreclose my primary residence or will I be in trouble because I bought it as an investment property, help please.

FHA loan to purchase a investment property? Can I use an FHA oan along with other first time home buyer offers to purchase an investment property. My wife is not on our mortgage and she would like to but some investment property with an FHA and refi in appx 2yrs. Is this possible or breaking the rules??

I purchased an "investment" property 2 years ago. I get consistant rent but the mortgage went adjustable. Now my wife and I are in the hole about 400 bucks per month. The loan will go up again in another 6 months. I cannot refi because someone in the neighborhood went into foreclosure and sold for about 100k less than what I paid for the property. How can I get out of this mess, lock the loan rate so it doesnt go up again etc...what is the solution?

Is it possible to purchase investment property with no money down? I have recently moved and was a victum to an adj rate mortgage. Now I am renting for the first time in 14 yrs. My family has agreed to purchase a home for myself with it in their name. We have been checking and for them to purchase the home it is %20 down on investment property? There credit is about 695 so a loan is real possible. We are wanting a way to purchase an $80,000 with minumun money down if possible.

How do you buy an investment property with an LLC? I purchased a investment property then formed an LLC. I was then warned that if I transferred ownership that I would end up causing myself a lot of problems with the mortgage company. I am about to buy a second investment property and want to do it right this time. Do I obtain the loan in the name of the company?

how long does it take to transfer mortgage title and or loans from one party to the other? my husband and I have in our names a residential and an investment property, my husband wants to transfer his interest in my name only. Is it possible to transfer the title of mortgages only but have loans in joint names.

How does one start a property investment business with no capital.? I once attended a seminor where we were advised that one could use credit cards, loans and other means to get a mortgage and start up on the property development ladder, how does this really work? Unfortunately i am very sceptical about spending €1000 for a 3day course on it. Please comment or share ideas.

What can I do if an individual won't release a paid in full mortgage on my property? We own an investment property. We obtained a loan from an individual 5 years ago to start our own business in which the individual used our investment property as collateral and filed a 2nd mortgage on it. We paid the 2nd mortgage off in full 9 months after obtaining the loan, and the individual refuses to file the release of mortgage, there are no other penalties owed to him etc. He is also the landlord on the commercial space we rent for our business, and he likes having the mortgage lien on the investment property as insurance he will get his rent every month. Rediculous! We are now trying to sell the investment property and he has caused us to lose one buyer because of the title issue, by some miracle we have another buyer, does anyone have any creative ideas other than a lawsuit in civil court? This guy is not a brainiac, but he does have a decent lawyer, everything he owns is in a trust and the mortgage was funded out of that trust. There just has to be a way to force this guy to do the right thing and stop using these mafia tactics to push us around. Help!

Need property with assumable mortgage in Syracuse NY? Being oversees buyers we cannot finance our investments through the traditional banks. We are investors in Multifamily properties that are looking to acquire more investments properties through Assumable Loans or seller financing in Syracuse NY

Where can I get a home equity line of credit (HELOC) on a condominium investment property? I own a condominium that I rent out and owe nothing on the mortgage. I've applied for several HELOCs online, but all have denied me because it is considered an investment property. Does anyone know of any bank that offers this type of loan?

How do I give back investment property with two mortgages? I have an investment property that my renters are paying me very slow. I have personal financial problems and I am already 3 months down on both mortgages. I would like to give the deed back in lieu of foreclosure, however I'm discovering that Bank of America will not accept if a second (Greentree) is still on property. The house is up for sale and my renters have until November to get out (the lease is up). It has been a true loss and I just don't want the house anymore and the headaches that has come with it. I need some direction as to any companies out there to review my legal documents to find loop holes to the mortgage contracts that I signed up back 3 years ago. This was purchase money which I did an ARM subprime loan at 100% financing with two loans. Isn't there someone who could address a loop hole to get me out of this mess?

Should I stay away from a second mortgage interest only loan? I've been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I've been told that the 2nd loan is Home equity line of credit. How much will my payments go up on the 2nd mortgage and should I look for another loan. Thank You.

If I use 22k in equity from one investment property as a downpayment for another which costs 60k....? Is my mortgage loan going to be for 38k?

Home Mortgage Loan? Does anyone know a company in Ohio that will give you a home mortgage loan for an investment property? We have excellent credit and already own our home and do not want to take out a home equity loan. The problem we are having is we only need the loan for $18000 and can not find anyone who will loan that little bit for a mortgage

If you own property [land] and its 100% paid for Can you get a mortgage loan with no job? Have a friend who owns 20 acres and the land is paid for. He wants to purchase a home for 60k to rent out for an investment. He has no job, can he use the property for collateral to obtain a loan?

Can anyone suggest a good mortgage company that works nationwide? Hello, I'm looking for referrals on reputalble lenders who will help me obtain a loan. Most of the brokers or lenders whom I spoken with are offering high rates, second mortgage, 6 months reserves or just not calling back. I'm looking to obtain a loan for an investment property in Georgia. So, if a lender or broker can work with my student loans, FICO Score 653 and can CALL BACK please respond.

Is it possible to get a 2nd mortgage to pay down part of the first mortgage? The mortgage on my investment property is adjustable, and I would like to take advantage of the current rates. I cant refi the whole mortgage because now the property is worth less than the loan amount. Can I get a new (fixed) mortgage for say, half the balance of the existing mortgage, and pay down half of that first mortgage, leaving me with the same overall balance, but now two mortgages, one adjustable, and one fixed?

If I just refinanced my home mortgage, can I finance a new investment property soon after? I just refinanced my home last month and got a much lower rate and payment. Of course, this means my mortgage was paid off and a new loan was initiated. Does this affect my credit in a way that would hamper me being approved for a mortgage on a new investment property?

Can I increase mortgage on investment property (Australia)? I have an investment property with a loan equivalent to 75% of its market value. I have also have a mortgage on my residential home. I would like to increase the investment property mortgage (as the interest is deductable) and use the money to pay down my home loan (which is not deductable)? Is this allowed? If not, can I get around it?

What are my alternatives to Investment property? I purchased a Condo in Florida (investment property) at the height of the real estate market. The purchase was made with a friend as a joint owner. As luck would have it, my partner lost her job a couple of years ago and cannot pay her half anymore and is proceeding into bankruptcy. Obviously, I am liable for the loan and am searching for any alternatives, either short term or long term. The Condo mortgages along with my personal residence mortgage is 48% of my gross pay. At this rate, I'll eat up my savings within six to nine months. I am current on all payments. The value of the property was financed at 90%, with a mortgage and HELOC. Both are interest only loans. The current value of the property is 72% of the loan amount. This means the value of the property is currently about 65% of what we paid. We have been renting the unit as a vacation rental, but only have been able to rent it about 25% of the year. It generates enough income to cover about 20% of the cash outlay. Long term rental prospects are slim. Any thoughts on how to either keep the property and minimize damage or is foreclosure an option I need to consider down the road? Is a loan modification possible, even on investment property? My credit score is very good at 805, so I guess I would sacrifice that as well. I'm not looking for an easy way out, I just want to understand all my options. thanks The condo is in Panama City and I am working as an engineer in Georgia about 350 miles away. So, a business in the unit is not really an option. I guess another investor is an option. 50% ownership at 25% of the cost. That may work. The the intent was to rent about 200 days a year, however, the rental market in this area was saturated with new condos, thus only able to rent about 3-4 months a year at best. Additionally, the with the hurricanes several years back, the insurance and property taxes more than doubled, which was not anticipated.

How do I protect my interests purchasing an investment property with co-owner? We have decided to purchase an investment property & be co-owners with my boyfriend so we can split the profits upon selling it after 1yr. What legal steps do I need to take to ensure my interests are protected? The mortgage will be under my name. The plan is for him to lease the property for 1 year & make monthly payments that will cover the mortgage. I will continue to rent. We will both contribute equally towards upgrades needed for the house to sell after 1 year. How should he be listed on the title? should the interest be 50/50? What additional legal documentation would be needed incase we decide to split. I realize as the loan will be under my name I will be solely responsible. How can I ensure I can sell the property if I need to if he ceases to rent & I decide not to move in to the property, can I remove his name from the title? How would I need to set this up to begin with to allow for such flexibility. I haven't closed the deal as yet but will be doing so soon.

Is it getting harder for people to get approved for a mortgage? I here that it is getting harder for people to qualify for a mortgage loan.That a lot of guidlines are getting tighter. Who now knows the real scoop on the mortgage industry. Who qualifies and who don't? Is investment properties harder to get whats the deal. I believe people talk to much to scare consumers. If so I understand because there are lots of forclosures so banks are trying to avoid those deals. And bring more stable ones.

What losses can be deducted to offset a 1099-C for an investment property? I own this home since feb/06. Will I be able to deduct mortgage interest, taxes,maintenance and other expenses to any income I have to report (1099-C)? What about the downpayment I walked away from. In my case I put down 20k. My loan balance is $172K and properties in area are appraising for $172K-$177k. I purchased for $192k. I 've paid about 23K in interest only payments and other expenses in my attempt to try and sell and not ruin my credit. But I'm at the end of my rope. I would like to understand all the financial consequences of doing this "deed in lieu" beside of course ruining my credit. Thanks Sorry. The downpayment is for this house not another. Haven't walk away from it yet.

what qualifies as a second home for mortgage loan? I am working overseas, I want to buy a house in Texas. Can I consider it to be a 2nd home and ask the mortgage company to give me interest as second home instead of calling it "investment property" ? The interest rates and taxes for 2nd home is less than investment property. It will be rented out till we come back to Texas.

1031 Exchange - Can I take out a mortgage in my name on someone else's property? A relative is doing a 1031 exchange on an investment property into another investment property. It is a house I will be living in and will eventually get the entire property. My question is this: Can I take out a mortgage in my name, on a 1031 exchange property that is not in my name? If so, does it have to be an non-owner occupied loan?

what is the benefit and process of combining two mortgages into one loan? I have heard that you could combine two mortgages into one loan, I have two investment properties, one loan is for $142000 and the othe is for $130000, will it be possible to combind them and own one property free and clear ?

What is the cheapest way to finance investment property? Is it better to take a HELOC? Loan from an investor? If so, how do I find one? What ultimately will keep me away from the 10 percent interest the mortgage broker is trying to set me up with? All good answers. Given what you have all collectively told me, I'm getting ripped off....because I have good credit and good income. I already own one home (with good equity) and I have plenty of liquid assets.

What would be a decent interest rate on a 30 yr mortgage loan for 200K, with 200k down payment? Credit score is excellent. Investment property. I don't know how to judge whether my broker is getting me a good deal or not. The loan is for 200K, the down payment is 200k....the house is 400K.

How much will i need in Ready-cash to purchase an investment Property? A Vacant Land is up for grabs for about $165,000. I do have a mortgage already with an equity worth about $100,000? what is the best loan so i don't use my own cash? A Vacant Land (green-titled plan) is up for grabs for about $165,000. I do have a mortgage already with an equity worth about $100,000? what is the best loan so i don't use my own cash?

If I purchase a home in all cash would I get a mortgage or home equity loan? I am planning on purchasing an investment property with 100% cash. I can purchase the property at 60% of market value. I then plan on pulling a loan out for 60% of the market value. Would it be considered a mortgage or a home equity loan? A mortgage currently is about 300 basis points lower than the home equity loan. I am hoping it would be considered a first mortgage because it would not be a second lien position. Thanks

How to purchase more than two investment properties? My question is how do people have many investment properties say 7-10 $100,000 properties? When you try to get financing for more properties wouldnt you you be so far in debt? I know that you rent out the properties but you cant make that much profit after the mortgage payment. For example if you have 7, 100,000$ properties renting for 1500 a month with a mortgage of 1000 for each your only netting 3500 a month and in $700000 worth of debt so how can you keep getting loans for more properties?

Mortgage Loan Officers Please give me some advice? If there any loan officers out there that can please give me some advice i would really appreciate it. My son has a house that is currently being rented and I rent an apartment. Although he pays his mortgage on time he has bad credit and I have very good credit. His score if 560 and my score is 740. He wants to refinance and put my name on the mortgage since I have good credit. Will the bank allow this? If so how will it be done. Some people are saying he has to add me to the deed and wait 3 months, I have also heard he can just add me to the title and do it right away. I have heard some banks allow you to refi as long as you are just added to title. What is the difference between the two? I am trying to get a clear answer. Also, being that the house is rented do we have to get an investment property rate which is much higher than if it were owner occupied? The tenants that live in the house now are leaving and I am planning to leave my apartment and live there.

Investment Property Mortgage? I am trying to find the best lender to purchase an investment property. It is a single famile home located in the Charlotte NC area. I have great credit and money down, I just need a no-doc or stated income loan. I know of a few lenders just looking for new ideas. I would love to find someone that will do it for 10% down but 20% seems to be the norm latley. And yes before you comment I know the Real Estae market is terrible in the US right now, but I live in a thriving market so no smart comments needed. Thank you for your help

Investment Mortgage? I am trying to find the best lender to purchase an investment property. It is a single famile home located in the Charlotte NC area. I have great credit and money down, I just need a no-doc or stated income loan. I know of a few lenders just looking for new ideas. I would love to find someone that will do it for 10% down but 20% seems to be the norm latley. And yes before you comment I know the Real Estae market is terrible in the US right now, but I live in a thriving market so no smart comments needed. Thank you for your help

I need to find a way to transfer my mortgage, and purchase a new home.? Could I transfer my mortgage to my father out right, and or be a co-signer on the home as an investment property? How will that affect my qualify for a loan?

Who are some good nationwide hard money lenders for buying investment property? Anyone know of any good sources for such hard money? I am speaking for buy investment single family homes and also buying, apartment building all the way up to 6 units. For example, will anyone still base the purchase money loan based on a strick 65% of the current appraisal value of the property, and be satisfied with their security of their 65% LTV or allowing a seller second mortgage for the balance. I know that these types of loans were being done as long ago as 10 years ago or longer, and more than likely even in recent years. I also know that lending guidelines have become more conservative lately. But what I also know is that there are usually some lenders out there who are willing to do some loans outside of the box. So my question is simply whether anyone knows of any such lenders who loan nationwide.

Is it getting harder for people to get approved for a mortgage? I here that it is getting harder for people to qualify for a mortgage loan.That a lot of guidlines are getting tighter. Who now knows the real scoop on the mortgage industry. Who qualifies and who don't? Is investment properties harder to get whats the deal. I believe people talk to much to scare consumers. If so I understand because there are lots of forclosures so banks are trying to avoid those deals. And bring more stable ones.

Mortgage: Investment versus Primary Residence? Say I want to buy a house and rent it out for 12-24 months before making it my primary residence. Would the loan be categorized as for an investment property or as a primary residence? Any direct knowledge of the subject is appreciated. Thanks for the responses. I'm interested in buying a house while prices seem to be a little depressed. However, I work overseas and would not be able to occupy it myself for at least 12 months after purchase. At that point, it would become my primary residence, but I would consider renting it out rather than leaving it unoccupied for that period. I don't plan on doing anything illegal. Not the intent of my question.

What is the best home loan for a short term mortgage? It is for an investment property and I am only planning on holding on to it for 3-5 years. What is the best home loan available with the lowest payment without any differed intrest?

Home equity loans used as investment? We are little naive about finance...duh...we have about 300k in equity in our home and wondered when you release that equity to say buy a holiday/investment property...are you essentially upping your mortgage by that amount?so you actually are paying double maybe triple the repayments....pls explain

Wanted to help my friend in getting mortgage loan for $240k by adding my name as co applicant. My concerns..? I trust my friend. I wanted to help him by adding my name as co applicant since my friend has bad credit score and I have good credit score. The advantages for him: 1) he will get lower interest 2) he need not pay property insurance. The insurance is waived off if credit score is good or 20% down payment. He is making 5% as down payment. 1)I have plan to buy home for myself but I am entitled to get loan for only $250k. a) If I add my name as co applicant in my friends loan, will I have problem in securing loan for my home since I am already in 250k loan. b) I heard there is tax rebate for the first mortage loan and subsequent mortage loan is treated as investment property. And the second loan wont qualify for tax rebate. Is this true? c) what if my friend refinances his loan in 6 months and then I apply my mortgage loan. Will I have any problem in getting my loan and my tax rebate(technically this is my 2nd mortgage loan).

Tax liability on an investment property forclosure? I purchased an investment property on May 23, 2006 for $720,000 with a nonrecourse mortgage in California. It was forclosed by Countrywide on September 19, 2007. I received a 1099 A for $144,000 from Countrywide. I found out that the property was sold for $513,000 on March 18,2008 which is actually $207,000 difference. Will I have a tax liability for a nonrecourse loan ? If so what is my tax liability ? Can I avoid this liability if i can prove I was insolvent ?

is there a mortgage company that loan funds to people with bad credit? I cannot work outside the home due to my illness.We need an additional income to live. My credit is bad, but am working on making it better. I want to buy investment properties and help those just like myself. I need help in getting financed with no money down.

should i refinance to purchase investment properties? i reside in North Bergen, NJ 07047 i'm trying to refinance to purchase an investment property but i don't want to lose my low APR rate for a higher rate. i currently have a 5.25 on my 1st mortgage and a 5.8 on my second. lenders now are charging ridiculous closing cost $3,000-6,000. what is the best way to purchase an investment property without messing with my current loans?

Family property investment??? All takers welcomed on this one - My mother owns her home in South Mass. and it is worth about 300K (roughly). She owes about 60K on her existing loan. She plans on leaving it to my brother and I in the future but is having some problems making the payments now. Here is my question: How can my brother and I best serve her (and ourselves) finiacially in this situation? The three of us have talked about having my brother and I purchase the home from her on a 30 year loan, title it in our names (the brothers) and then make the payments for her. She would live in the home without a payment and we, the boys , would be making payments on a property that we own and would eventually sell. I am unsure of how we would generate a mortgage loan based on the fact that my mother wants to sell us the home for 0 and we (the brothers) want to minimize our monthly costs while allowing mom to live without a payment. Thanks in advance!!

What are the Consequences of lying 2 mortgage Company? I want to stay in my current home and buy an investment property. What are the consequences of lying to the mortgage company saying the new place will be my primary, but really renting it to avoid the higher interest loans?

What are Foreclosure rules/ asset seizure? My parents are elderly/ retired and have a principal residence with equity and an investment property with little equity. The investment property is not able to be sold or rented out and they are spending whatever little remains of their cash reserves and social security to pay the mortgage on the investment property. I would like to see them allow the investment property go into foreclosure as they can ill afford to carry it. If they do so, will their principal residence or any other assets they have be subject to sseizure by the mortgage company holding the loan on the investment property?

Looking to buy investment property - any lender reccommednations? Now that half my neighborhood is forclosed, I would like to pick up a few bargains for investment purposes. In order to capitalize on the opportunity, I would like to put as little down as possible so I can use my cash for more properties. I was told that you have to have a score in the 800's to get a low-down investor mortgage. Well, just so happens my credit score is in the mid-high 800's. That means I am eligible for 5% or 10% down investor loans at decent interest rate - my question is - who does these kinds of loans. I heard Chase does. Any others. No brokers please. Thanks! Dear Troll....Copied directly from my credit score monitoring service: Your credit score is based on information from your 3 Bureau Merged credit report. The higher your score is, the better chance you have of getting the credit you apply for. Your credit score from your Equifax credit report is 860 on a scale of 150-930 Experian credit report is 854 on a scale of 150-930 TransUnion credit report is 838 on a scale of 150-930 So, if you don't like it... Take it up with equifax Moron....

Serious Advice Only: With investment property when do u cut ur loses and let the houses go back to the bank? Had investment properties 4 over 7 years and have been profitable for 5 1/2 of those 7 years. However, after the mortgage companies let everyone w/ no credit or bad credit get home loans...all that's left 2 rent is the scum in Memphis, TN. We've had 5 houses vacant out of 7 for months, get renters & after 1st month they don't pay their rent, they know the eviction law and how long it takes 2 get them out, it costs us $ 2 put out, u can't ruin their credit cause they don't have much of one, don't care, if u try 2 garnish their wages...they just quit their jobs. We've poured all our personal $ over the past 1 1/2 yr. into keeping our credit in good standings, paying 7 mortgages, repairs, insurance, taxes plus our own personal mortgage and expenses. We have borrowed money recently 2 keep them afloat, but when do u abandon ship? Credit will be ruined, mortgage co. will come after us 4 difference in owed amount & sale price...we just want out before we're bankrupt...their 4 sale also.