New Hampshire Investment Property Loans

Investing in Rental Properties in New Hampshire

The New Hampshire real estate market is growing, with the median value of homes and sales increasing each year. Investing in rental properties in New Hampshire can be a great way to expand your investment portfolio and create a passive source of income. Some of the rental properties that are eligible for New Hampshire investment loans include:

• Single-family homes
• Multi-family homes like duplexes, triplexes, fourplexes, townhouses, condominiums, and apartment buildings
• Vacation rentals

Our loan options make investing in rental property in New Hampshire easy, allowing you to grow your portfolio and earn rental income sooner.

New Hampshire Investment Property Loan Types

Griffin Funding provides a variety of investment property loans in New Hampshire. Discover more about the loan options available from New Hampshire hard money lenders.

Conventional Loans

Conventional loans, sometimes called conventional mortgages, are the most common. With conventional loans, you get approved based on your financial situation and creditworthiness. Lenders will look at your income, total debt, and credit score to determine your loan eligibility. These loans may offer better interest rates but are harder to approve.

DSCR Loans

When you apply for a DSCR loan, lenders look at your debt-service coverage ratio (DSCR) when reviewing your application. Essentially, lenders want to see that your rental income exceeds your monthly debt so you can make on-time payments. While DSCR loans can be valuable for investing in rental property, a down payment is still required.

Bank Statement Loans

These loans are specifically geared toward people who can’t get approved for a conventional loan because they don’t have tax returns and other necessary documents. Bank statement loans are similar to conventional loans in many ways, but they consider your bank statements to determine your eligibility.

If you’re self-employed or have unconventional sources of income that make it difficult to qualify for a traditional loan, hard money lenders in New Hampshire can help you get approved for a loan using bank statements. While they’re more flexible than conventional loans, bank statement loans typically have higher interest rates.

VA Loans

VA loans are offered by individual lenders and backed by the U.S. Department of Veterans Affairs. To qualify for a VA loan, you must be a military veteran and meet certain requirements. While veterans who were discharged due to a disability may still be eligible, the requirements to qualify for VA loans are generally:

• At least 90 days of service during times of active duty or;
• At least 181 continuous days of service during peacetime

Since VA loans are backed by the Department of Veterans Affairs, they offer more favorable loan terms for qualified veterans.

FHA Loans

FHA loans are one of the best investment property loans in New Hampshire if you qualify. FHA loans are insured by the Federal Housing Administration, which means New Hampshire lenders can offer more favorable loan terms. Generally speaking, FHA loans require smaller down payments, have lower closing costs, and are easier to qualify for in terms of creditworthiness.

Home Equity Loans

When you continue to make monthly mortgage payments, and the market value of your home grows, your home equity also increases. Home equity loans let you leverage the equity in your home as collateral to secure a loan, so you can get approved even if you don’t qualify for a conventional loan. To qualify for a home equity loan, you typically need a minimum of 15% or 20% equity in your home.

Asset-Based Loans

With asset-based lending, you can get approved for a loan using your assets as collateral. If your credit score prevents you from qualifying for a personal loan, asset-based loans allow you to use bank accounts, investment accounts, and other assets to secure a loan.

Private Money Loans

Private money loans are funded by private organizations or individuals. This flexibility means you can qualify for a private money loan even if you don’t meet the requirements for conventional loan types. Since private lenders often have more flexible lending criteria, these loans can be a great choice for borrowers who face challenges with traditional financing.

How to Qualify for Investment Properties in New Hampshire

Hard money lenders in New Hampshire look at a few basic details to determine loan eligibility. If you’re applying for investment property loans in New Hampshire, here are some of the requirements you should keep in mind:

• Credit score: While your credit score isn’t the deciding factor, many hard money lenders have a minimum credit score of around 550 or 600 for investment property loans.
• Debt-to-income (DTI) ratio: Lenders may look at your total debt versus your rental property income to determine eligibility.
• Other requirements: Depending on the type of loan you’re applying for, lenders may require that you have a certain amount of equity in your home or make a minimum down payment.

Why Choose Griffin Funding

At Griffin Funding, we make it easier for New Hampshire real estate investors to get approved and start investing. With fast approval times, fewer loan requirements, and flexible loan options, Griffin Funding gives you the power to grow your investment portfolio.

With the Griffin Gold app, you can monitor your credit score, find out how much home you can afford, and track your home’s value with the click of a button.

Find the Best Loan for Your Rental Property in New Hampshire

Are you ready to start investing in rental property in New Hampshire? The first step is finding the best loan for your next investment. At Griffin Funding, we offer several investment property loans in New Hampshire to help you access the money you need to start investing. Apply online or contact us to learn more about our loan programs.