Investor Loans
An investment loan is typically the type of mortgage that you get from your lender to meet your specific investment goals and risk profile. By choosing the right investment lender for your needs, you may save on interest and maximise your borrowing capacity, thereby helping you to grow your property portfolio faster.
Some lenders also offer extended interest-only periods, and require a lower deposit or equity contribution. This can mean you will be able to invest again more quickly, and achieve your ultimate property goals sooner.
Who qualifies for an investment loan?
Although the approval criteria for investment loans can be complicated, there are some basic lending criteria that can guide you to see if you qualify for an investment loan:
- You should have a good credit history.
- You should have 5% – 10% of genuine savings.
- You should have a stable job.
- Some lenders may like to see your equity in other properties.
If you wish to talk to a 3Carrots mortgage broker to know more about investor loans, please call 0434 390 688.