Rental Property Mortgage
Rental Property Mortgage (five units+)
If you are looking to take on a rental property, there is the need for a rental property mortgage. Getting the best rates depends on a lot of things and Super Brokers can help you throughout the process. Get the right rental property mortgage to fit your needs and get the financing for your multi-unit rental property.
These types of mortgages are available for newly built or used properties. They can also refinance at competitive rates so that you can:
- Free up equity built in a property to use personally or for other investments
- Expand your retail portfolio and use funds to make a down payment on another property
- Renovate and increase the value of a current property
- Add units to your current rental property to increase income
Having the right funding can mean the difference when it comes to your multi-unit rental property. Maximizing your portfolio is important and a quality mortgage at a great rate can help to do just that.
Multi-Unit Investment Mortgage Requirements
Before you begin, call Super Brokers. Our commercial mortgage specialists will help you throughout the process. Most importantly, they will help to get you the best rental property mortgage for your needs. All of this in a fast, efficient method.
If this is your first rental property, you will likely have a lot of questions. Our team can put you in touch with a reputable property appraiser or inspector in your area. This will give you the guidance that you need when it comes to property valuation and, eventually, proper financing.
Consider the following items in your application process:
- Properties need to generate approximately $1.30 of income for every $1.00 of debt to be viable
- The borrower’s net worth must be equivalent to at least 25 percent of the loan amount
- Revenue earned from the rental property must cover the operating expenses of the building and mortgage payments
- Income generated from the property must be incurred from legal suites meeting permissible qualifications for the locale
- Mortgage insurance will usually be required if financing is provided toward 65 percent, or more, of the property value
Contact us today using our secure commercial mortgage application.