Profile picture for deckerfp

are mortgages still being approved for investment homes

  • June 27 2009 - King of Prussia
  • 0Yes

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Answers (4)

Typically you can finance up to 70% of the value on an investment property with a purchase or refinance.  If you have really strong credit, 700 or better score, you can finance up to 75%, but be prepared to pay at least 2 to 4 points especially if you want to do a cash out refinance. 
  • July 07 2009
  • 0Yes

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It is still possible to qualify for financing on investment homes, but be prepared to put down at least 30%. 

The mortgage insurance companies have stopped insuring these loans and lenders have gotten more conservative when underwriting them since the default rates for investment properties are higher than for owner occupied homes.

Good luck with search and feel free to email back if you have more questions!
  • July 07 2009
  • 0Yes

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Profile picture for real estate mike
definetly but no more fully leveraged investments bring some cash, think 20-30%, and beware of the prejudice against flippers.
  • June 27 2009
  • 0Yes

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Profile picture for wetdawgs
Yes, if you have a substantial down payment.
  • June 27 2009
  • 0Yes

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