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Is there any way I can get a mortgage on a house that I don't have residency with?

by nickofftman from Lancaster, Pennsylvania. Jun 26th 2013 Reply


Adrielle Edwards (AdrielleEdwards)
#902 ranked lender in California - 96 contributions

Absolutely. It is referred to as an investment property. As Peter said they can require a larger down payment and will have a slightly higher interest rate but it is very common.

Jun 26th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,535 contributions

Sure... non-owner occupied loans, also known as investment property loans...

Jun 26th 2013
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Delania Tak (takass_668_871)
#907 ranked lender in California - 10 contributions

Yes, please contat us at www.takandassociates.com ... we have NO Cost/Fee loans and access to the Lowest Rates on the market-place. Thanks.

Jun 26th 2013
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Josh Lund (Josh_Lund)
#45 ranked lender in Minnesota - 113 contributions

The only way to do that is to put yourself on the title on the loan.. then the waiting period is usually 6 months after that.

Jun 26th 2013
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Yes.. but pricing would be different depending on what the intended use would be, and which loan product you go with.. Investor owned is available using conventional financing, and if your co signing for someone, you can be a non occupying co borrower for some conventional products as well as FHA. You can also buy a home for your elderly parents and some lenders have a special program which allow this without the pricing hits you would get for an investment home, but without knowing more details, it's hard to give you specific advice. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 26th 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

Yes of course, very easy, You can buy using a non residency loan, these require a little more down payment, please give me a call 1855 411 LEND. thank you Peter Savino HOMEMORTGAGEXOERT.com

Jun 26th 2013
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Yes.. but pricing would be different depending on what the intended use would be, and which loan product you go with.. Investor owned is available using conventional financing, and if your co signing for someone, you can be a non occupying co borrower for some conventional products as well as FHA. You can also buy a home for your elderly parents and some lenders have a special program which allow this without the pricing hits you would get for an investment home, but without knowing more details, it's hard to give you specific advice. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 26th 2013
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Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,318 contributions

Yes, with a 25% or larger down payment, depending on your credit.

Jun 26th 2013
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Becky Raveson (203K_Specialist)
#71 ranked lender in Virginia - 6 contributions

Hey, Nick.If you are asking if you can get financing for an investment property, yes, you can--single family residence and even multi-family property. If you mean can you be a non-occupying co-borrower, you can if the borrower will be living in the property. We see this often with a parent co-signing with a child.Becky -- Southern Trust Mortgage. 267-439-6034.

Jun 26th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Investment property loan or you could also me a Non-Accupying Co-borrower. Get with a Lender411 Loan to discuss your situation.

Jun 26th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Investment property loan or you could also me a Non-Accupying Co-borrower. Get with a Lender411 Loan to discuss your situation.

Jun 26th 2013
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James Mazzola (Mazzola)
#110 ranked lender in New Jersey - 314 contributions

Absolutely. It is referred to as an investment property.

Jun 26th 2013
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Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

Yes you can, as everyone has referenced it would be an investment property.

Jun 26th 2013
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Roland Williams (RolandWilliams)
#813 ranked lender in California - 8 contributions

Yes, Absolutely. It is referred to as an investment property. Its specialize in those types of property's. Please feel free to conactt me at any time with any questions or concerns you may have at roland@secureonecapital.com

Jun 26th 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

It's possible yes ! Andrew

Jun 27th 2013
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Jason Vondrak (jvondrak)
#221 ranked lender in California - 1,741 contributions

Yes you can get a loan for an investment property purchase. They do come at slightly higher interest rates than primary residences.

Jun 27th 2013
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David Sanders (David_Sanders)
#811 ranked lender in California - 59 contributions

Nick, The time to pick up an investment property is now. Well actually was 2-3 weeks ago when rates were prime. Still great time to pick up additional real estate to invest in. It is called an Investment Property or Non Owner-Occupied Loan. Interest rates are higher on these loans because there is more risk on the banks for default. I'd suggest talking to a Licensed Loan Officer here off lender411 from Pennsylvania for more details. Good luck!

Jun 27th 2013
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Eric Vander Werff (Loanguy99201)
#86 ranked lender in Washington - 27 contributions

Yes for sure - you can refinance your investment property or buy a home you intend to be a rental. Best rates and programs are going to be with 25% or more in equity or down-payment.

Jun 27th 2013
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