The purpose of an Investment Property Mortgage is to finance a property that will be used as an income producing rental property.
Investment Loan Basics:
- Term: up to 30 years, fixed or variable rates available
- Loan-to-value: up to 80% LTV
- Qualification: full documentation. 75% of rents may be used towards qualifying income if borrower has owned investment property and income has been claimed on 1040 tax returns for the past two tax years
- Property types: 1-4 unit single family dwellings
You may be surprised with how easy it is to purchase an investment property as guidelines have become more flexible these past several years. Your Utah Mortgage Loan Officer would be happy to review the options and create a custom solution just for you.