Investor Guide To Buying A Home

by Wendy Burton from Citrus Heights, CA USA

Regarding an investor guide to buying a home: Can I purchase investment properties and rent them out without being employed? I have the down payments, but where can I borrow the money for the purchase if I am unemployed?

Kate Answers: Investor Guide To Buying A Home

Hi Wendy, True, there are many real estate opportunities on the market right now. It is very tempting as was buying a house with a subprime zero down mortgage in past years.

So I suggest investors without an income proceed with caution because in spite of rents being sufficient to cover the mortgage, there will be times the property becomes vacant. During vacancy, the monthly house payments cannot be postponed. Of course as with any house, there is also the need to budget for repairs.

More specific to your question, many of the lenders who originated no-documentation mortgages in the past are either out of business or no longer offering these types of programs to borrowers with unverifiable income. I have another thought, though. Have you considered pooling your downpayment funds and buying fewer homes with cash?

Another Reader like you asked for help with refinancing her rental property which turned into a good discussion. You can read it here at Help With Real Estate Investor Loans where you will also find the link to her original question.

At the bottom of the page, I have provided links to uncommon information about buying and selling a house to supplement this Investor Guide To Buying A Home. By all means, please let me know if you have more questions.

Take a moment to bookmark Investor Guide To Buying A Home to your favorites and visit often for more tips to buying a house. Wendy, you can also invite friends to comment on this page or ask another question of their own like you did.

Visit How To Buy A House for solutions based on inquiries from other Contributors just like you.

Best Wishes,

Ask Kate how to get the best mortgage rates
Ask Kate

P.S. Check out Best Mortgage Rate Blog yourself! It's an entertaining source of mortgage information. Subscribe now to the RSS feed.

Unique Home Buying Help

Make your home buying a snap with the Home Buying Scorecard.

When traditional mortgage lending fails, look at Seller Financed vs Stated Income Mortgages.

Do you know this about Fixer Upper Houses? Toilets determine the age of a house and other tips.

Private Money Lenders because rural properties need special consideration.

USDA Rural Home Loans with zero down payment required.

Low Down Payment Mortgage - The dilemma of a low down payment.

Start your wealth building by buying a foreclosed home.

First Time Home Buyer Credit could be yours even if you have previously owned a home.

Learn the differences between Residential Construction Loans - Mortgages designed for building homes.

When private mortgage financing originates between family members, these questions arise.

Ask Kate About Home Buying - Go here to ask me a question.

How to Buy a House Questions and Answers II.

How to Buy a House Questions and Answers I.

Return from Investor Guide To Buying A Home to the Home Page found at

Click here to add a comment.

You can also ask Kate about your mortgage at Ask Kate About Buying a House.

Recent Articles

  1. Kate's Mortgage Rate Report August 11: Rates Bouncing Like a Ping Pong Ball

    Aug 11, 16 10:49 AM

    Kate's mortgage rate report for the week ending August 11, 2016: Rates Bouncing Like a Ping Pong Ball
    Mortgage interest rates have been bouncing like a ping pong ball: After last Friday's strong job report began pushing up mortgage rates, the market is now hinting at a reversal, with the 30-year hover…

    Read more

  2. Ask Kate how to avoid unauthorized mortgage rate extension fees

    Aug 11, 16 10:18 AM

    Ask Kate how to avoid unauthorized mortgage rate extension fees
    Ask Kate how to avoid unauthorized mortgage rate extension fees:

    After locking in her rate, the bank sent a Texan homeowner, Laura, notification of several thousand in fees that she must pay in order…

    Read more