If your current lender really cannot do that, I'd find another one who can.

The interest rates can fluctuate based on the lender, your credit score, and the loan type, but you're correct in noting that no one can provide a specific rate without more details.For investment properties, the down payment may lean closer to the higher end of that range (around 10-15%) rather than 5%.

Here’s a breakdown of the main ways investors fund their first deal while minimizing their own cash outlay:1.Private Money & Hard Money Loans– These lenders focus more on the deal than on your personal finances.

A reputable lender we were referred to recommended we obtain a vacation home loan, as that allows our current income to be considered, which will be higher than our income once we move and lower our DTI.

Whether you’re looking to buy, flip, hold, or develop, this event will provide the strategies and knowledge you need to take action.In addition to the panel discussion, this is a prime opportunity to network with local investors, agents, lenders, and industry professionals who are actively growing in the Bronx and Westchester markets.Who Should Attend?

So if that is the case, how do I show proof to my lender that I am covered?

Cash out Refi)Pros:- Typically lower interest rates than the other two optionsCons:- Higher closing costs- You lose your current interest rate that is probably significantly lower than current ratesHELOC)Pros: - Lower closing costs- Interest only for what you use- You can choose to use it or not depending on your future plansCons:- It is a second lien, so they typically have higher interest rates- Sometimes it is a variable ratePrivate Lender)Pros:- Less government restrictions that you need to follow- HUGE amount of flexibility because everything on it is negotiable from interest rates, to payment options- Not required to leave 20-30% of equity in the property, and no PMI if you have less than 20% equity- Closing costs are minimal.

If I could rent my home for $2,500 (I hear lenders could take 75% of that projected income?)

Consider reaching out to private lenders, accredited investors, or real estate crowdfunding platforms.

Lenders will base their max LTV on the appraised value assuming positive DSCR.