This home mortgage loan is for investors. People who purchase homes as an investment, rather than as a place to live, qualify for these types of loans. The home cannot be occupied by the owner because then the house wouldn't be an investment!
Down payments on these types of home mortgage loans are very high, but most of the time, investors just "buying a house" for renting can afford it.
Home Mortgage Loan Company
Home mortgage loans for investors generally are more difficult to obtain without very good credit. The loan officers make sure that the loan applicant is very capable to repay the home mortgage loan and that the home in question is actually worth the value of the home mortgage loan.
