Borrowers who wish to purchase investment property have the benefit of exploring a few financing options. Some of the options include the conventional mortgage, home equity loans, rent to own, investment partner and mortgage transfer to name a few. While the home equity loan can facilitate nearly 80% equity from your existing home’s value to fund the purchase of your investment property, rent to own is an option wherein during the renting of the property you can save up for a down payment and boost the creditworthiness. Mortgage transfer is rather a less popular option wherein if the loan is assumable it can be transferred to someone else. However, at times even an assumable mortgage can be difficult to transfer as the new borrower need to qualify for the loan.
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