Getting a Mortgage for Investment Properties over $3

Getting a mortgage of over $3,000,000 for investment properties can be challenging as most lenders consider many factors and place stringent requirements due to their risk. In most of America, a home worth $3 million is expensive. Technically, when your income exceeds $3 million, you are officially living in luxury. Admittedly, the average cost of a home in America is over $400,000. As a result, the price of a three million dollar home is 7.5 times the median. In locations like San Francisco, San Jose, Los Angeles, Seattle, and New York, $3 million alone won’t get you home because of its location. The pricey seaside cities have nice homes available for $3 million. However, the location of your $3,000,000 home is important. If you are looking to buy an investment property with a mortgage, there are requirements you need to […]