Investment Property Loans

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What you need to know about investment property loans

Expand Which loans are available for investment properties?

Residential investment property mortgages differ from primary home mortgages in four key areas:

Downpayment: Investment property mortgages usually require a larger downpayment.

Interest Rate: Investment property mortgages usually have higher rates.

Loan Underwriting: Residential investment property mortgages may be underwritten differently than properties that are owner-occupied.

Property Size: At TD Bank, residential mortgages for investment properties are for buildings with 1 – 4 units. If you're interested in a building that is mixed-use, commercial or more than 5 units, you may need to consider commercial financing for your mortgage needs.

You can learn more about your best loan options and get a realistic price range for your search when you talk to your TD Bank mortgage advisor to get prequalified.

  • To get prequalified, you will need to provide your basic debt, income and asset information; your mortgage advisor will pull a credit report
  • By the end of your conversation with your advisor, you'll know how much you prequalify for
Expand What if I live in a different state from where I'll be buying my investment property?

If your investment property is in a different state, keep in mind that your lender must be authorized to lend in that state. TD Bank operates in 15 states from Maine to Florida – find a TD Bank near your property.

Additional considerations:

  • Documentation and closing procedures may vary from state-to-state, so work closely with your mortgage advisor, real estate professional and closing agent.
  • Be prepared to be present for both your property inspection and your closing.
  • If you can't attend your property inspection, make sure you get the report and ask the inspector any questions.
  • If you can't attend your closing, your loan officer can help you identify who can legally represent you.

Have questions? Ready to apply? We're here.

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