Buying an Investment Property

Whether you’re purchasing your first investment property or your hundredth, you need the mortgage transaction to go smoothly. After all, you are counting on the deal for your livelihood.

Ark understands the subtleties of buying residential properties for investment purposes, and will make sure you get the right loan for the best rate. We specialize in these kinds of loans, so there will be no surprises when it comes time to close. Speaking of which, our loans close fast, usually within 21 business days after submission of all documents. We know how important that is to an investor: the sooner you close, the sooner your investment property can generate income.

For investors purchasing more than one property, we offer a Multiple Purchase discount that can save $ thousands. Talk to an Ark Mortgage Advisor for details.

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FAQs

Is an ARM loan right for me?Can I use my IRA when buying a second home or investment property?Can I use a co-borrower to help me finance an investment property?How much do I need to put down when buying a second home?How many investment properties can I finance at one time?

Is an adjustable rate mortgage right for you and your family or business? Use this calculator to compare a fixed rate mortgage to two types of ARMs—a Fully Amortizing ARM and an Interest-Only ARM. A fixed rate mortgage has the same payment for the entire term of the loan, while an adjustable rate mortgage (ARM) has a rate that can change after the fixed period, which could increase or decrease your monthly mortgage payment.

Yes. You can use a “Self-Directed IRA” to purchase a vacation rental or rental home. There are some federal guidelines and it’s vital to check with your Mortgage Advisor and tax professional or CPA to understand all requirements and restrictions beforehand, as well as any potential loss of IRA benefits.

Yes, co-borrowers can assist you in financing your home if your debt-to-income ratio is too high to purchase the investment property on your own. This is an inherently complicated process and should be discussed in depth with your Mortgage Advisor.

Down payment requirements for a second home can be as low as 15%, though 20%-25% is more ideal in terms of affordability. Speak with your Mortgage Advisor regarding particular program guidelines.

Investors can finance up to 10 properties simultaneously. To help finance investment properties, ask your Personal Mortgage Advisor about Ark’s Cash Advantage Program, which lets you initially pay cash and then refinance qualifying properties in less than the usual six months. And when refinancing, Ark’s Multiple Property Discount only charges borrowers the application and commitment fees for the first property and waives those fees for all additional properties refinanced at the same time.

Buying an Investment Property

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