To Buy Rental Property — Loan

Before you head to the bank, make sure you have these three things in order:

Lenders view rental properties as higher risk than primary residences. If a borrower hits a financial rough patch, they are more likely to stop paying the mortgage on an investment property before they stop paying for the roof over their own head. Because of this, you can expect: loan to buy rental property

Lenders often want to see that you have 3–6 months of mortgage payments (for all your properties) sitting in a savings account as a safety net. Before you head to the bank, make sure

Usually 0.5% to 1% higher than standard rates. Before you head to the bank