Ability to Pay Monthly Payment
Conventional loan lenders compare your personal income to your monthly loan payment, primary residence mortgage and more. Private lenders look at the property appraised value, potential monthly cash flow, fair market rent, etc.
Ability to Repay the Loan
This will depend on the type of loan, current interest rates, down payment size and other factors. Traditional banks look at 2 years of personal tax returns, employment history, cash reserves and your credit report. Hard money lenders will look at acquisition purchase price, after-repair value, construction costs, potential monthly rental income, South Carolina rental market trends, etc.
Larger Down Payment
Real estate investment loans generally require a larger down payment. Expect a 10-35% down payment.