Buying a residential property versus purchasing an investment property involves entirely different considerations. If you plan to live on the property, your priority will likely be ensuring it meets your personal needs. You’ll be thinking about such factors as its proximity to your child’s school or your workplace and the features of the home.
Adversely, when searching for an investment property, your focus is likely to be its earning potential, the local vacancy rate, and opportunities for capital growth. By extension, the home loan that works best for the purchase of your investment property may differ markedly from the home loan that is ideally suited for an owner-occupied property. Most importantly, your investment property home loan should cater to your needs as an investor.
That said, here are the vital criteria to be on look-out for when selecting the right home loan for your investment property purchase.
Interest rate type
There are three interest rate options to choose from when signing up for an investment property home loan:
SMART Business Solutions is a registered financial services provider and perfectly positioned to help you calculate the level of home loan you qualify to borrow and how to boost your borrowing power.
If you’re in the market for a financial advisor with knowledge of the property market and mortgages, SMART Business Solutions can team up with you to help you purchase a property at the best interest rates and on the most reasonable terms possible. We are here for you every step of the way, providing regular check-ins to ensure you stay on track to property ownership success!
Our holistic approach to taxation, accounting and financial planning means we bridge the gap in the client
experience, eliminating the frustration from delays that are often inevitable with multiple stakeholders involved in the lending
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