Spartan Commercial Mortgage services is your Connecticut resource for purchasing or refinancing investment property in our State. We specialize in Investment property loan financing.

Residential Property Investment Loans: 

Non owner occupied investment properties have to be from 1-4 units (condos as well). Generally, you will need to put 20-25% down on investment properties. Secondly, borrower must have reserves of 6 months of PITI (principal, interest, taxes, and insurance) payments. Finally, you will need a good credit score to get a competitive rate. The property must also be in good condition in order to pass through an appraisal. 

You are able to do this as a commercial mortgage as an individual or as an LLC. There are pros and cons to both. Call me at the number below to get more information. 

Commercial Investment Property Loans  

Doing a commercial mortgage is a different process than that of doing a residential loan. The investment property will still have to be non-owner occupied. You can do the loan as an individual or as an LLC/Corp. Units must be between 1-4 or 5+. There are stated income and conventional options available. Credit score requirement vary depending on the size of the loan. 

Appraisals are roughly between $650 to $1,200. Similar to residential loans, your max loan to value is 80% on a 30 year fixed Connecticut Investment Property Loan. A major difference between the two programs is rate. Commercial mortgage rates are a bit higher than residential loans but can still be in the 6s. 

In closing, I will help you every step of the way for your upcoming purchase or refinance on your Connecticut Investment Property Loan. Call me today for a free consultation at 860-876-0572 or click here to get pre-approved..

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services 

mike@spartancommercialmortgage.com 

(860) 876-0572