I just hung up the phone with a potential out of state investor looking into the Greater Kansas City area for their future rental properties. Know what? They thought the Kansas City real estate investor was having a difficult time obtaining mortgage money. Nothing could be further from the truth.
You can still get a mortgage for investment property. Here are the parameters as I know them;
- 10% down for single family homes, townhomes and duplexes.
- 25% down for triplexes, fourplexes and anthing with 5 units or more.
- Credit scores of at least 680…720 and above is more better.
Even if you have more than four properties you can still get an investment loan.
Jeff Brown over at Bawldguy just wrote about this today (inspiring this message) and is also preaching to the masses.
Are you in the market for a Kansas City investment property? You should give me a call today. I’ve got about 4 identified that I’m enamoured with. Talk to you soon.