Turn your current home into an investment property
If you are buying a new primary residence, you might want to consider renting your current home. In this scenario, you can still take advantage of rates and loan options for primary resident properties. In other words, you can keep your current home as an investment property without having to take out an investment loan. If you find a renter and get a signed rental agreement, you may be able to claim 75% or more of the rental income to demonstrate that you can afford both mortgages. There are other considerations, so please contact your Intercap loan officer for more information.
What does it take to be a landlord?
When you combine the potential benefits of appreciation, amortization, and rental income, rental properties can be a powerful investment opportunity. As with any investment, there are risks to consider. Support from rental investment professionals can help you mitigate these risks. Your Intercap loan officer may be able to provide local recommendations for the following: