With your investment being an owner-occupied property, you will have the advantage of keeping a close eye on everything that happens at the property. In addition to the physical benefit of being there for any major changes, there are also discounted interest rates on offer over traditional investment mortgages.
Yes, every lender will have a specific eligibility criterion that must be met to qualify for an owner-occupied loan for investment property. Having an experienced broker on your team will help you to clearly understand what the criteria is and know whether you can meet the requirements to qualify for such a loan.
An owner-occupied investment loan is a blend of a traditional home loan and an investment mortgage. Being owner-occupied, your investment property will likely come with lower interest rates than a more traditional investment loan, but specific terms and conditions will vary from lender to lender. Your expert broker will be able to advise you of all the available financing options along with the specifics for each.
If you are looking to purchase a property on an owner-occupied mortgage, one of the main factors is that you must be living at the property. If you can prove rental income from renting additional rooms within your home, then you might be considered for an owner-occupied loan for investment property, but the final decision will come from your chosen lender.
The two main distinguishing factors with this type of financial product are that the financial institution must recognise the estate as an investment property, and you must prove that it is an owner-occupied property. Once these two factors have been established with your lending institution, you can proceed with this financing option instead of a regular homeowner mortgage or an investment property mortgage.