Get Rich Education

Learn how to qualify for an income property loan today.

We discuss what just made mortgage interest rates for investment property drop 1% overnight.

First, I discuss the difference between adequate safety vs. too much safety for tenants in investment properties.

Too many safety regulations have a cost that gets passed onto tenants and even increases homelessness. 

Caeli Ridge, President of Ridge Lending Group joins me.

A few weeks ago, mortgage interest rates for income property fell a full 1% due to the suspension of added risk layers that were added back in March. 

For an income property loan, you need: 1) 15-20% down payment and ~4% closing costs. 2) Credit score of 680 or better, 3) Show sourced & seasoned liquid assets, and 4) 50% maximum debt-to-income ratio. 

There are pros and cons of paying monthly PMI.

Today’s “typical” income property interest rate = 3.75%.

What happens when you try to get more than 10 income property loans? We discuss the terms, called “non-QM” loans.

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Show Notes:

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Direct download: GREepisode365_.mp3
Category:general -- posted at: 4:00am EDT