Qualifying for investor finance can be more difficult than for regular home loans. But that doesn't mean you should give up your investment goals! Luxe Financial is here to help you secure an investor loan and realise your dreams as a property investor. Banks usually consider investor loans as riskier (which is why it may be more difficult to qualify, or to borrow as much as an owner occupied). But there are several things you can do as an investor to give you a better chance of qualifying for a loan.
Although there are varying requirements depending on the lender or bank, here are some basic lending criteria to see if you qualify for an investment loan:
- A good credit history
- A 5% - 10% genuine savings
- A stable job
- Equity in other properties
An investor loan can be a great way to realise your investment objectives, but you must be careful to choose the right loan that meets your specific goals and risk profile. Choosing the right lender or mortgage provider can save you interest and help you maximise your borrowing capacity. Paying attention to these details will help you grow your property portfolio faster.
Luxe Financial can help you find great investor loan deals! There are some lenders in Sydney, Wollongong and the Illawarra & Central Coast that offer extended interest-only periods and require a lower deposit. This will enable you to invest quickly and achieve your goals sooner. Whatever your needs are, we will sit down with you and build a plan based on your financial goals. Call us today so we can talk and get down to business.