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If you have good credit but not high income and you are interested in purchasing for investment purposes what are your chances of being approved for a loan?
Wiki User
∙ 17y ago
Pretty good if your credit score is high enough. You possibly could qualify for a "Stated Income" loan. On investment property for a stated income loan you normally would have to have a 10% down payment. You can get into a mortgage loan with a lesser down payment going this route, but, you'll definitely be paying for it in your interest rate.
Wiki User
∙ 17y ago
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Give an example of an investment house?
Any residential property that I've acquired for the purposes of making a profit, not for the purposes of residence/living in such as a dwelling.
What is the purpose of using wealth management systems?
There are many purposes of using wealth management systems. One of the main purposes is that it incorporates financial planning and advises investment discipline.
Definition of investment property?
A property purchased with the intention to make a return on investment in the form of either rent or capital gain. Agreed. An investment property is a property one uses for wealth purposes. ======== An investment property can be a long-term endeavor, such as an apartment building, or an intended short-term investment in the case of flipping (where a property is bought, remodeled or renovated, and sold at a profit). Depending on what your goals are, you may want to sit down and make a long or short-term plan and make sure that you factor in all of the possible risks!
How does a credit machine differ from an ATM?
A credit machine is a machine that uses a credit card for purchasing purposes while an ATM is an Automated Teller and is meant to deposit and withdraw cash from an account.
What is real estate investment and funding?
Real estate investing generally means buying or otherwise making an investment in real property (real estate). Some will include investments in funds or trusts that own the property but such investments are rather different legally and for tax purposes. Funding when used in the context of real estate investing normally refers to the raising for funds from other sources with which to invest. The most common and most easily understood is applying for a loan from a bank and having that loan secured by the real estate that is being purchased for investment purposes. Funding can also mean raising capital from other investors who want to invest passively; someone else handling the management aspects associated with the real estate investment.
What is Foreclosure investment?
The process of investing in real estate for investment purposes by purchasing property at cheap prices because it is in foreclosure. It is a very speculative and time consuming investment.
Where can one get a loan to invest money?
One can receive a loan for investment purposes at many banking institutions. SunTrust offers their customers loans to use for investment purposes. However, one has to get approved for these loans.
how to get non-institutional financing for investment purposes?
Non-institutional financing can be obtained for investment purposes by completing the application process for an organization that makes its own money, or an individual. Simply ask a good friend or family member to make a loan to you for investment purposes.
Example of investment?
Any residential property acquired for the purposes of making a profit, not for the purposes of residence/living in such as a dwelling.
What is the function and purposes of the executive branch?
propose legislation to be approved by congress
Why would someone sell a house to an LLC?
It is common for a Limited Liability Company to acquire real estate, especially for investment purposes or to remove it from individual ownership.It is common for a Limited Liability Company to acquire real estate, especially for investment purposes or to remove it from individual ownership.It is common for a Limited Liability Company to acquire real estate, especially for investment purposes or to remove it from individual ownership.It is common for a Limited Liability Company to acquire real estate, especially for investment purposes or to remove it from individual ownership.
How can one buy foreign currency for investment purposes?
To buy foreign currency for investment purposes you can contact a Exchange Trade Funds broker. They are brokers that specialize in foreign currency and can help you choose the right currencies.
Give an example of an investment house?
Any residential property that I've acquired for the purposes of making a profit, not for the purposes of residence/living in such as a dwelling.
Value property from income basis?
Your basis is the amount of your investment in property for tax purposes.
What does NOT accurately describe Bacon's purposes during the rebellion that bears his name?
An increase in the value of an investment
What is home ownership?
Many homeowners look forward to purchasing a second home that can be used for vacations, rental income, investment purposes or as a primary residence during retirement. Current tax laws offer several tax breaks that can help make second-home ownership more affordable
What is second home ownership?
Many homeowners look forward to purchasing a second home that can be used for vacations, rental income, investment purposes or as a primary residence during retirement. Current tax laws offer several tax breaks that can help make second-home ownership more affordable
