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Conventional Mortgages
Making the decision to finance your investment property over using nothing but cash has the ability to yield a greater return for you as the investor. A lot of the time, investors will decide to pay just the property down payment in cash, and then finance the remainder using a conventional mortgage.
A conventional mortgage usually has a low interest rate and is the most common mortgage type that homeowners use today in the US. These interest rates may differ depending on the area you’re thinking of buying, but they are typically the lowest available.
If you’re looking to take out a conventional mortgage, a minimum of 20% of the home cost is usually required in order to do so, sometimes ranging higher. Ultimately it will depend on the lender, so it wouldn’t hurt to look around at what options are available to you.
Financing methods are not a footnote to be looked over when looking to invest. You’re investment plan may not even get off the ground if this factor isn’t examined carefully to determine what you can and cannot do. Conventional mortgages serve as a very useful tool to help get you ahead in your investing, along with many of the other financing options available.
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