Compare Investment Property Rates Today – Bankrate.com

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The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products. Bankrate does not endorse or recommend any companies.
Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.
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Buying an investment property — also called an income property or rental property — is one of many strategies that can generate income and long-term wealth. As with any investment, there are risks to buying and owning this type of property, and the requirements to finance one are somewhat different compared to that of a primary residence.
Investment property mortgage rates are the interest rates lenders charge for an investment property loan. The rate you’ll get is determined by your credit and financial profile, including the size of your down payment. In general, the higher your credit score and the more down payment you can make, the better your rate.
Investment property loan rates are almost always higher than conventional loan rates, including second home loan rates, due to the steeper risk an investment property poses compared to a primary residence. If you plan to rely on the rental income from a tenant to contribute to (or cover) the mortgage payments for the investment property, there’s a greater possibility you could default on the loan if your tenant fails to pay rent.
There are a few ways to ensure you get the best possible mortgage rate on an investment property loan:
Many mortgage lenders require a down payment of at least 15 percent or 20 percent for an investment property loan, but some look for 25 percent, at minimum.
You can finance an investment property with a variety of loans, except for government-insured ones. The most common financing methods include:
If those options don’t work for you, you can also try to obtain owner financing. If you plan to buy a commercial property as an investment, you should look for a commercial real estate loan instead.
You can use the equity in your primary residence to purchase an investment property by way of a HELOC or home equity loan. You can use either of these types of loans to make the down payment on the property. For this to work successfully, though, you’ll need to ensure the income from your tenant more than covers the payments and other rental expenses. You can use Bankrate’s home equity calculators to help you consider your options.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
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