Investment Property Mortgages
Florida Investment Home Mortgages
Thinking of buying an additional property for a new source of income? That would be considered an investment home. Investment homes tend to have the highest interest rates and down payment requirements of all property types. Reserve requirements also apply to investment homes.
What Are the Advantages of Conforming Investment Home Mortgages?
- No prepayment penalty ever
- 30yr, 25yr, 20yr, 15yr, or 10yr
- Up to 43% debt to income ratio
What Are the Requirements?
- Minimum credit score 680
- Debt to income ratio under 43%
- 15% Minimum down payment for Single Family Properties
- 25% Minimum down payment for Multi-Family Properties
- You plan on collecting rent from the property. If so, you may need to submit a lease agreement that confirms the property is already occupied by a tenant.
TIP: Keep in mind that when buying an investment home, you may not be able to include your future rental income from the property in your conforming mortgage application.
Additional Income / Program Options for Investment Properties:
