Barre, Vermont
14 N Main St, #5015
Barre, VT 05641

Mortgage Loan Experts Explain What to Know About Investing in Real Estate December 13, 2017

Barre, Washington
Mortgage Loan Experts Explain What to Know About Investing in Real Estate, Barre, Vermont

Real estate has a solid reputation for being a sound investment, allowing many people to secure a healthy financial future. However, it takes quite a bit of research and a clear understanding of the market to ensure a good investment is being made. Whether you’re interested in becoming a landlord or a commercial investor, you’re likely to have a number of questions if it’s your first time going through the process. The mortgage loan experts at Premium Mortgage Corporation have assisted numerous clients in Buffalo, Rochester, and Syracuse, NY, and Barre, VT, with getting the financing they need to complete a successful investment deal. Below, they provide helpful answers to some of the most commonly asked questions about buying an investment property.

Mortgage Loan Experts Answer 4 FAQs About Buying an Investment Property

1. How Do I Get Started in Real Estate Investing?

First, establish your budget and determine how much you need to borrow. This will give you an idea of what price range to look in and help ensure you don’t spend more than you can afford. Since location is key for any property purchase, it’s also important to gather all the information you can about different neighborhoods.  

2. What Is the Difference Between an Investment Loan & Home Loan?

mortgage loanIn general, lenders often view investment mortgage loans as a greater risk than traditional home loans. As a result, this may lead to higher rates and require a bigger down payment. In addition, it’s normal for lenders to require an investor to have a certain amount of money in reserve to qualify for a mortgage. There are also significant differences when it comes to tax benefits.

3. What Are the Costs of Ownership for an Investment Property?

Aside from mortgage payments, there are several costs associated with owning an investment property. Expenses you will need to consider and factor into your budget include insurance, maintenance, repairs, property taxes, utilities, loss of income from vacancies, marketing, and property management. Building inspections, stamp duty, and legal fees are additional costs to account for.

If you’re new to real estate investing, it’s always a good idea to speak with a mortgage loan professional about your goals. Contact Premium Mortgage Corporation at (844) 793-0177, or visit their website for more tips and information.

Corporate Contact information:
2541 Monroe Avenue,
Rochester, NY 14618
(585) 241-0000
NMLS #3254 Equal Housing Lender
Licensed Mortgage Banker NYSDFS  

Other Announcements, Events and Deals from Premium Mortgage Corporation
3 Essential Winter House Hunting Tips From a NY Mortgage Banker, Barre, Vermont
While many home buyers prefer to do their shopping in the summer, looking for a home in the winter also has its benefits. In this case, the mortgage bankers at Premium Mortgage more
Top Mortgage Banker Shares 4 Ways to Improve Your Credit in 2018, Barre, Vermont
As 2018 approaches, you may have started brainstorming resolutions to set for the coming year, such as improving your credit to purchase a home. Luckily, there are multiple ways to more
Home Loan Providers Share 5 Tips for Selling Your Home in the Winter, Barre, Vermont
Selling your home can be an overwhelming process, and in the winter season, the cold weather and darker days can make the process even more complicated. Fortunately, there are some more
Local Home Loan Providers Answer Common Mortgage FAQ, Barre, Vermont
Shopping for a new home can be a mix of excitement and anxiety. You want to find your dream home without busting your monthly budget. Asking the right questions first is a good way more
3 Ways Outstanding Debt Affects Your Application, Barre, Vermont
Did you know outstanding debt can have a negative effect on your mortgage loan eligibility? With 17 years of experience and offices in Rochester, Buffalo, and Syracuse, NY, as more