info@tilamortgage.com
206-766-8888
A Division of American Pacific Mortgage, 1850
TILA spelled T-I-L-A stands for the Truth in Lending Act, and
emphasizes our commitment to honest and ethical lending

Real Estate Investor Loan

Real Estate Investor Loan

Now is a great time to buy rental properties. Our Home Loan experts will help you buy smart and get faster ROI.

  • Real Estate Investor Loan Specialists
  • Experts To Help With Your Loan Strategy
  • Review Loan Options For RE Portfolio

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If you are interested in more information about a Real Estate Investor Loan, call (425) 533-9400 now  for a free consultation or get a free rate quote by email. From Seattle to Tacoma, from Bellevue to Spokane, we serve all of Washington state.

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Our Loan Process

Are you interested in creating a monthly cash flow or diversifying your assets with a rental house or multi-family unit?

Many markets that were over-priced during the housing bubble have over-corrected and property can now be purchased far below the cost to rebuild – which can mean substantial cash flow.

Getting a loan to purchase rental property can be tricky. Work with a company that has the experience necessary to help navigate you through any hoops that arise.

Considerations for a Real Estate Investor Loan

Things to consider when purchasing rental property and using a real estate investor loan:

  • Fannie Mae currently allows each investor to carry 10 loans at once.
  • Credit Requirements
  • Cash Reserves
  • Down Payment

Details

  1. Fannie Mae currently allows each investor to carry 10 loans at once If you are working with TILA Mortgage, we can help you strategize both a long-term and short-term plan to ensure that you are taking advantage of your 10-loan limit.
  2. Credit Requirements A little known fact is that there are two different credit-qualification guidelines for obtaining investor loans. The first is for properties 1-4 and the second is for properties 5-10, listed below:
    • Loans 1-4: requires a credit score of at least 620
    • Loans 5-10: requires a credit score of at least 720
  3. Cash Reserves In addition to the down payment, lenders will typically require you to have six months of cash reserves available per property. This means that if you own a primary residence and you are going to acquire a rental, the lender will require you to have six months of mortgage payments (cash in the bank) for both your primary residence and your future rental.
  4. Down Payment Just like there are two sets of guidelines for your credit, there are also multiple sets of guidelines regarding down payments, listed below:
    • Loans 1-4 (Single family): 20% down
    • Loans 5-10 (single family): 25% down
    • Loans 1-10 (multi-family): 25% down (side note: many lenders will require you to pay 30% after loan 4)

At TILA Mortgage, we have a good understanding of the loans available for the rental property investor and can help you quickly navigate through your qualifications.

Give us a call today to talk with one of our licensed Seattle loan officers and learn more. 206.766.8888

206.766.8888
TILA Mortgage, Real Estate Loans, Bothell, WA