Most lenders rely on either cash flow or verifiable income before approving a mortgage. This convention makes financing difficult for self-employed borrowers and has many rental property investors seeking alternate methods of financing a rental property. After the mortgage crisis of 2007-2010, Congress enacted the Dodd-Frank Act…which heavily regulated mortgage lenders. Until then, mortgage lenders were […]
How to get Rental Property Loan Approval Without Proof of Income
If you’re looking to invest in a new or rental property but afraid you won’t qualify or may not want to show proof of income or tax returns, a No-Doc or Low-Doc loan is right for you. With QK Mortgage we provide the right alternatives to obtain loans taking into account any obstacles you might face. […]
When to Refinance a Hard Money Loan
We get a lot of calls from people asking when to refinance a hard money loan. The answer usually depends on timing and loan terms. Rates are now at historic lows, making it a good time to refinance a hard money loan for rental property. If you got into a hard money loan and you […]
3 Reasons to Avoid Getting a Second Mortgage for Rental Property
Owning a rental property can serve as a great source of alternative funding. You can sell, do a cash-out refinance or take out a second mortgage. A second mortgage is an excellent tool for experienced investors who need to access cash for investments or business purposes. There are plenty of valid reasons to take out […]
5 Tips for Getting the Best Mortgage Rates for a Rental Property
Investing in the real estate market has once again become the “it” thing to do. Long gone are the days of the great market crash and home prices have once again regained their stability. This stable housing market has brought out both the long seasoned real estate investor looking to add to their portfolio and […]
How to Qualify for Investment Property Mortgage Loans
Investment properties are usually one to four-unit dwellings that borrowers use as a rental property and do not maintain as their primary residence. These situations require special financing referred to as an “Investment Property Mortgage Loan”. Financing Investment property has many advantages when compared to a primary residence. Rental property loans allow a borrower to […]