Houses for Sale Burnaby
There is a lot to think about when looking at houses for sale in Burnaby. When applying for a home loan to finance the purchase, whether the house is an investment property or owner-occupied plays a major role in the process and the type of loan you get. Of course, working with the best real estate agencies will also help the process go as smoothly as possible.
Are You Ready To Start Shopping For Local Houses For Sale?
There could be any number of reasons why you may want to buy property. You could want a home for your family to enjoy, or you want to have an investment you can use to collect income from rent. You might also be in a situation as a first-time home buyer that wants to explore rentvesting. No matter the reason, a top real estate company can help you understand the different loans and all of the options available.
Here at Team Keenan Neilly, we can help you to answer some important questions as you shop some of the houses for sale in Burnaby, including:
Q: What are investment loans versus owner-occupied loans?
A: Owner-occupied and investment loans refer to money you borrow when purchasing a property. The difference will be the purpose of the property. An owner-occupied loan is when someone wants to buy a home to live in. An investment loan is where you purchase a property with the intent to rent it for income growth.
Q: How do owner-occupied loans work?
A: Working with our real estate brokerage firm, we will help you find the perfect property to enjoy with your family. When it comes to the loan, lenders make inquiries that involve debts, income, assets, and more. This is done to help determine how much you can get for a loan.
Q: How do investment loans work?
A: The overall process for an investment loan will be similar to owner-occupied loans. However, other factors will come into play, such as possible rental income, the potential for the property value to appreciate, and more.
Q: What loans can investors look for?
A: The best local realtors will also tell you about home loans for people looking to dive into the property investment realm. For example, a line of credit is there for people that already have part of their home paid off and have the chance to borrow against their equity.
Let Us Help At Team Keenan Neilly!
Do you have more questions about buying a new home as an investment or to live in? We would love to know you and what you have in mind as you look into houses for sale in Burnaby. Get in touch with us by calling (604) 412-5879, and you can set up a time for a home buyer consultation. We can also go over any of the homes in the greater Burnaby area that you are interested in touring or putting an offer on. You can also look to us for answers when you want market knowledge or to find out what might be best for you regarding loan options.