For financing 4 units or less on traditional residential mortgages, I highly recommend you contact:

Tammy Dorwart
Loan Officer

505-830-7016
505-888-0142 fax
1-800-264-2114 x7016

Becoming a real estate investor may be easier than you think!  To help you meet your goals in investing, you will need a mortgage professional who can guide you through the process of financing.   

 I am ready to help make the process easy and to partner with you in meeting your goals.   As a mortgage banker in Albuquerque for the past 15 years, I have helped numerous investors purchase 1 to 4 unit properties. 

 **Important facts about financing your investment property

 +  You can use normal residential mortgage financing to purchase 1 to 4 unit investment properties.

 +  You can purchase a 1 to 4 unit property as investment with as little as 10% down.

 +  If you are eligible for FHA financing, you can purchase a 2 or 4 unit property with as little as 3% down.  You must occupy one of the units.

 +  Your downpayment for the investment property purchase can come from secured financing  (Ask me about a home equity line of credit to be secured by your primary residence)

 +  The rental income your property will generate is used to offset the mortgage payment when you are being qualified for a mortgage.

 There are many mortgage programs available for the real estate investor.  Here is a sample: 

• 1,3, 5, 7 and 10 year ARM loans
• 3, 5, 7, and 10 year ARM loans with minimum interest only payments
• Traditional 10, 15, 20 and 30 year fixed rate programs
• Tax Advantage Mortgage Insurance (for loans with less than 20% down)

 I am always happy to discuss real estate financing options with my clients.  Please feel free to contact me with any questions you may have.  Pre-qualification and pre-approval are free and can be done quickly and easily over the telephone.  Here is a list of information you will need to have handy when you call for pre-approval: 

• Income and employment information
• Bank or investment  account balances
• Social Security numbers and dates of birth for all owners who will be on the loan  (needed for credit report)

I will provide a letter upon loan approval (usually within 24 hours).  You will be prepared to make offers and be backed up by a letter that shows your are a qualified buyer.

_____________________from Tammy Dorwart

** the above financing conditions and terms are subject to change

This page is provided by Grimes Properties as a courtesy to visitors, and does not constitute an endorsement of any lender, or an attempt to steer you towards any lender. I have worked with Tammy for several years, and have always found her to provide excellent customer service and competitive rates. She is able to answer most questions about financing 4 units or less on traditional residential loans.

I always recommend shopping lenders to assure you get the best loan you can. But please consider that the lowest interest rate is not always the "cheapest loan". Up-front costs can be considerable, and should be considered in the cost of a loan. 

I suggest you calculate the total cost of a mortgage over a 10-years period, including all up-front costs, interest paid, and ending principle balance. This way you will have a good picture of your true costs of financing.