An investment property home loans offers individuals the ability to borrow funds from a lender to purchase a property for the purpose of investment.
Unlike a regular home loan, investment home loans provide borrowers with funds to use towards the purchase of a property that will be used for tenancy instead of as a primary residence. To apply for an investment home loan, applicants will need to provide evidence that they wish to use the purchased property as an investment.
Features of Investment Property Home Loans
- Higher interest rates – Investment home loans generally have higher interest rates compared to regular home loans due to the increased risk for lenders.
- Interest-only investment loans – Some lenders offer borrowers the option of only repaying the cost of interest for a specified period, which can reduce the upfront cost of the loan.
- Higher deposit requirement – Most investment home loan options will require a minimum of 20% deposit, resulting in a stricter loan-to-value ratio.
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