INVESTMENT PROPERTY
So now you’ve purchased your own home and now you’re looking to capitalize on building more equity with real-estate. At First Midwest Financial we can help you by offering
financing for investment properties. Rather it’s renting or “buying/selling” a property, we have loan products that meet just about any scenario to help you build equity and additional income.
Low rates
Online application
Calculator and rate comparison tools
Mortgage comparison charts
Experienced Loan Officers to consult with you on the right solution for you
INVESTMENT PROPERTY SOLUTIONS :
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BENEFITS: |
DISADVANTAGES: |
30 year fixed |
Monthly payments are fixed over the life of the loan |
Must maintain PMI until
loan reaches 80% LTV |
20 year fixed |
Interest rate does not change
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Payments may change over time
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15 year fixed |
No
Funding Fee like an FHA loan |
Lender paid PMI is
available but the cost of your loan increases through an increase
in rate |
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Some
conventional products do not require PMI if you're above 80% LTV
but you'll have a higher rate |
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Adjustable Rate
Mortgages
Interest Only options available |
ARM
Rates can be substantially lower then the fixed rate option and
give you better cash flow |
If Rates go up
possibility of your payment increasing |
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Typically no prepayment penalties - can sell or refinance
anytime |
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