What is the difference between a fixed-rate and an adjustable-rate mortgage?

A fixed-rate mortgage maintains the same interest rate throughout the loan term, providing stability. In contrast, an adjustable-rate mortgage (ARM) typically starts with a lower rate but may change over time based on market conditions.

What credit score is required to qualify for a mortgage?

Lenders typically prefer a credit score of 620 or higher for conventional loans. Government-backed loans like FHA and VA may accept lower scores.

Can I refinance my mortgage to lower my monthly payments?

Yes, mortgage refinancing can often reduce monthly payments by securing a lower interest rate or extending the loan term.

How much down payment do I need to buy a home?

The down payment requirement varies but often ranges from 3% to 20% of the home's purchase price. Certain loan programs, such as FHA or VA, may have lower down payment options.

What is the mortgage approval process like?

The process involves pre-approval, application, document verification, underwriting, and closing. Pre-approval helps determine the loan amount you can afford.

What's the difference between pre-qualification and pre-approval for a mortgage?

Pre-approval is a more rigorous process involving a comprehensive review of your credit, income, and other financial factors, resulting in a firm commitment from the lender for a specific loan amount.

Investment Property Loans - Eroica Financial Services

Investment Property Loans

We work with experienced real estate investors to secure mortgages on various properties, such as residential homes, multi-family units, and commercial properties. As an investor, you’ll have the opportunity to earn interest on your investment while benefiting from the security of a real estate asset.

Our team of experts will work with you to understand your investment goals and tailor our mortgage investment options to meet your needs. We’ll keep you informed throughout the investment process and provide ongoing support to ensure your investment is a success.

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At Eroica Financial Services, we have expertise in securing investment property home loans and are experienced in dealing with clients that have multiple properties in their portfolio.