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What Is An Investment Loan?
Home loans that are given specifically for investment properties are considered investment loans.
What would be considered “investment properties” under Australia law is a wide range from a small home for rent to a large multiple-unit building.
This is a special type of loan because the borrower will have rental income coming in to help in paying the loan back.
“I wanted to get into an investment property and got rejected by multiple bank lender. I engaged Zanda Wealth who not only made it possible, but did all the legwork for me and also got an amazing LVR and IO terms. Super happy!”
The Process of Investor Loans?
The first step in the process is that the borrower selects the property and does research on it to get information.
This data comes in the form of researching how much rent the owner charges to its tenants, how often is there any tenant turnover, how much does the owner pay in property taxes and utility payments, what are the owner’s total operating costs throughout the year, etc.
If the numbers and data all check out okay, the borrower then submits an application to the lender. The borrower’s creditworthiness is checked by the lender via credit reports and bank statements. This initial credit check will determine how much money the borrower needs to pay up front in the form of a down payment on the note. The lender then completes the investment loan by supplying the borrower the amount of capital requested. Investor Loans also come with a couple of caveats, the down payment requirements and interest rates are both typically higher than regular home loans.
Comparing Investment Home Loans
We have the capabilities to run comparisons on more than 4,000 home loans to find the best rate for your investment loan.
We can sort out the displays conducive to interest rates or their rating, this helps narrow the field down to a few candidates.
You can also filter out criteria that you deem unimportant and focus on whichever facet you’re interested in such as fees and offset accounts.
Comparing Interest Rates
We can factor in fees and other charges not typically included with other comparison sites in relation to borrowing rates.
Getting a low interest rate is imperative amongst borrowers due to the fact that interest adds up a lot over time.
Shaving off just a percentage point on the APR can save the borrower thousands of dollars over time.
We can provide the very best and complete comparison tool for lending rates on our website.
Let Us Help You!
Getting an investment loan is a major step and you shouldn’t make this step alone. It can take hours and days for a borrower to do all of the requisite research and comparisons of different loans available. We can help you through this process by providing the most up-to-date information and data available for borrowers.
We help our clients with pertinent information and help in the factors that they need to look for in good investment property opportunities. We don’t just provide comparison tools for our clients, we cover the entire gamut of the finance world. We also have a wide range of loan products that will be an asset to your investment needs.
Contact Zanda Wealth today about your next property investment.
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