If you want to know how to get a loan for an investment property, then look no further as our agents have helped many lenders approve investment property loans. Getting a loan for an investment property is fast and easy with us. We approve investment property loans within 24 hours and we do not need tax documents to determine your qualification. At QKMortgage.com, we ensure that you are provided with the right financing for investment property loans. There are several advantages to applying for a loan with QKMortgage.
Processing a Loan for an Investment Property
At QKMortgage.com, we facilitate a quick and easy loan approval process. Approval is based on the stated income of the borrower — no tax returns or income documentation is required. We have streamlined the underwriting process time for an investment property loan with pre-approvals being done over the initial phone call and funding within 30 days of application. At QKMortgage.com, we have done away with the cumbersome underwriting process that is typical of conventional loans and we require no verification of income as long as the borrower has some reserves to make a purchase.
Requirements for Loan for an Investment Property
There are a few requirements for a borrower to qualify for our investment loans for rental property. A 30% down payment for purchases is required (although 10% of this which can be paid with gift funds). 30% equity for refinancing is also required, and the property must be non-owner occupied. A minimum credit score of 600 is required for approval. The loan limit for investment property loans may range from a minimum of $125,000 to a maximum of $3 million.
Loan Approval Time
Investor loans are usually pre-approved within 72 hours, with funding usually occurring within 30 days. This is because we recognize the importance of closing deals fast for investors especially those who are planning to close in a month or less. For investors who want to buy an investment property or those who want to refinance their current rental property, deals are closed as fast as possible without them providing tax returns or income documents.
At QKMortgage.com we have no hidden costs. We provide our borrowers with all the necessary information concerning our loan for investment property products including the benefits and risks of each specific product. Our team of licensed loan agents will show you the most appropriate product for your convenience. Whether it’s your very first mortgage, a reverse mortgage or a refinancing, our efficient staff will advise you accordingly. For quick loans for investment property approval, contact QKMortgage.com on (866) 690-7463.