Financing Your Retirement

Although property values are low and it’s a great time to buy, finding financing has proven to be extremely difficult. Buckingham Investments has put together a few tips that will get you on the road to financing your investment property.

 

 

Local Banks

If you’re financing a unique property or if you have other extenuating circumstances, consider going to a local bank for financing rather than a large, nationwide financial institution. Local banks tend to have a little more flexibility; they may also know the local market better and have higher interest in investing locally.

Mortgage brokers

Mortgage brokers are another good option because they have access to a wide range of loan products.  In fact, most of our clients get their loans through mortgage brokers for this very reason.  In our experience most of the good ones usually specialize in a few types and know about all of the programs that are offered for your investment needs, whether it be FHA, VA, 2-4 units, 5+, Commercial, or any other loan you may need.

Owner Financing

A request for owner financing used to make sellers suspicious of a potential buyer. But these days, it's become more acceptable due to the credit crunch and the number of motivated sellers who want to get out of investing, as well as those who are just looking to retire and simplify their lives.