Monday, November 26, 2007
Buying Rental Properties
There is now the availability to purchase rental properties with only 5% down payment. That means on $200,000 purchase price, clients only need $10,000 as a down payment. Mortgage insurer with use 80% of the rental income for qualifying. There is also the potential to go with a 40 year amortization as well. Based on the above example mortgage payments would be $1089 per month. This a great product for investors to start accumulation an investment portfolio.