mortgages for real estate investmentsThere are several types of mortgages for real estate investments, including traditional bank mortgages, private mortgages, and hard money mortgages. Naturally, with good credit rating and good overall standing as a borrower, you can get traditional lender mortgages for investment purposes. In addition to the first mortgage, there can be a second mortgage. It is even possible that there would be a third or fourth mortgage. The additional mortgages are usually made provided that the borrower has from good to great credit standing and enough in the form of cash down payment has been made. Mortgages for Real Estate Investments - Private and Hard Money MortgagesPrivate mortgages, from private lenders, are usually dealt through mortgage brokers. Many real estate investors use this form of mortgage lending for short term financing purposes. The hard money mortgage option is primarily for those with bad credit. In these mortgages, the collateral value the lender places on the deal is important. In these deals, the hard money lenders will lend less than 80% of the appraised value of the property. To find mortgages of your choosing, it's best to turn to some of the available mortgage brokers for advice. You can find mortgage broker listings from: namb.org (National Association of Mortgage Brokers, has over 24,000 members, click on the "find a broker" tab) |