Purchasing an investment property
WE HAVE A MORTGAGE SOLUTION FOR YOUR UNIQUE SITUATION
YOU’VE BEEN WAITING. YOU’VE BEEN SAVING.
WHY PURCHASE AN INVESTMENT PROPERTY?
There are several good reasons to purchase an investment property. One, you can use it to generate profit through rental revenue or asset appreciation. You can also take advantage of certain tax deductions, particularly if you rent out the property. Expenses for repairs, maintenance, supplies, insurance premiums, cleaning, and management are just some of the allowable deductions that can help reduce your overall tax.
Things to consider when taking out an investment property loan:
Should you declare a property as a second home instead of an investment property?
Many people have struggled with the same question. After all, it would be less expensive to borrow money for a property that you are going to use for personal pleasure. However, lying to your lender is not only unethical, it is also a crime. Mortgage fraud is a serious offense that carries with it heavy fines. Thus, it is important to be truthful in your loan application.