Peoples Home Equity encourages investors to visit its website to estimate how much they may borrow for an investment mortgage.
Chicago, IL (PRWEB) May 23, 2015
Peoples Home Equity was pleasantly intrigued by a May 19th Corelogic article titled “Renter Applicant Risk Index Shows a Continued Upward Trend of Renter Credit Quality.” The article states, “The risk of default among renters nationwide decreased year over year with an index value of 108 in Q1 2015 compared to an index value of 106 in Q1 2014. The two-point year-over-year increase in the Index is a sign of improving ability to meet lease obligations among prospective apartment renters nationwide.”
Peoples Home Equity believes the continued decline in the nation’s unemployment rate has been the main proponent behind higher renter credit worthiness. Prospective real estate investors should be enthusiastic about this news as it means a higher number of stable paying tenets now exists. An investor's worst nightmare occurs if they must pay a lawyer to begin eviction proceedings, which in the winter in the Midwest can take a while.
Regionally, Corelogic states, “The Midwest, with an Index value of 103, had the highest renter applicant risk in the country in Q1 2015, followed by the South (106), Northeast (110) and West (116). This compares to the year-over-year time period in Q1 2014 when the Midwest had a value of 102, the South was 103, and both the Northeast and West had a risk value of 112. The Midwest has had the highest renter risk (lowest Index value) every year since Q1 2012. Since Q1 2009, the Northeast and West have had the lowest renter risk among the four regions, but the West surpassed the Northeast in Q3 2014.”
Peoples Home Equity encourages investors to visit its website to estimate how much they may borrow for an investment mortgage and calculate what their monthly mortgage payment would be for an income earning property. With 30-year fixed rates still well below the historic average, now is a great time to purchase an income property and build equity for a prosperous future. Even if one does not have interest in earning extra income, there are tax benefits to carrying a loan and paying for fixed expenses/variable expenses on a investment piece of real estate.
If you are in need of a mortgage, contact a Peoples Home Equity loan officer today at: 262-563-4026