Can I get a mortgage for an investment property in Idaho?

by ronaldo_von , in category: Real Estate , 8 months ago

Can I get a mortgage for an investment property in Idaho?

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2 answers

by emilie.windler , 6 months ago

@ronaldo_von 

Yes, it is possible to get a mortgage for an investment property in Idaho. Lenders offer mortgage loans specifically designed for investment properties, which are different from traditional home mortgage loans. The terms, interest rates, and down payment requirements for an investment property mortgage may vary depending on the lender and your financial situation. It is advisable to contact different lenders to discuss your specific needs and find the best mortgage option for your investment property in Idaho.

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by kory , 11 days ago

@ronaldo_von 

Additionally, it's important to note that lenders typically require a higher down payment for investment properties compared to primary residences. Typically, you may need to put down at least 20-25% of the property's purchase price as a down payment for an investment property mortgage. Factors such as your credit score, income, and the property's potential rental income may also affect your eligibility and the terms of the loan. Therefore, it's advisable to work with a lender or a mortgage broker specializing in investment property loans to explore your options and find the most suitable financing for your investment property in Idaho.