| Q |
Can you handle investment properties outside of Louisiana? |
| A |
Yes, we finance real estate investments throughout the entire country. |
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| Q |
Do I need 20% down for investment properties? |
| A |
If the property is a second home, you can finance it without 20% down. If it is a true investment property, we recommend you put 20% to avoid having to pay mortgage insurance, but it is not required. |
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| Q |
Should I put my investment property in an LLC or S corporation, or should I finance it in my own name? |
| A |
Because financing terms are more attractive for individuals than they are for LLC or S corporations, we recommend you buy investment properties in your own name. For example, most loans granted to businesses have a 15-year amortization period with the rate locked in for only five years. However, loans to an individual can be financed over 30-year period with a 30-year fixed rate. |
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| Q |
How many investment properties can I have? |
| A |
Fannie Mae, the federal provider of mortgages, limits each person to 10 investment mortgages. |
