Residential Investment Property Loans

Landlords should like our low rates

HELOC

12-month introductory fixed rate as low as 3.99% APR* then an ongoing variable rate as low as Prime minus 0.25%*

Get pre-approved before you shop for properties

Lower mortgage rates mean higher returns

Choose from fixed-rate and adjustable-rate options

You lay the groundwork. We'll help you work out the rest.

For your next business venture, you might just want to move into housing. The fact is, Baltimore abounds with potentially profitable residential rental properties. If you're looking to generate income from real estate, MECU offers low-cost loans to purchase or renovate buildings with one to four units.

There's lots to consider before you invest in a residential building. Do you want rental houses, condos or apartments? Is this a short- or long-term investment? Are you ready to do all the work required of a landlord? Once you've done the research, let MECU help you find a loan that fits your financing needs.

  • Funds for building purchases, refinancing or renovation
  • Low closing costs
  • Potential tax deductions on mortgage interest (Consult your tax advisor)
  • If you're interested in financing the purchase of property that's mixed-use, commercial or more than four units, we also offer commercial property financing

Frequently Asked Questions

Quickly and easily estimate your monthly mortgage costs by using our calculator.

When determining a mortgage, first decide how much you can comfortably afford, factoring in:

  • mortgage loan payment (principal and interest)
  • property taxes 
  • insurance
  • any HOA fees
  • miscellaneous funds for maintaining your home

Try our mortgage calculators.

To qualify for an FHA loan, your credit score should be 500 or higher, with verifiable steady income, and a debt-to-income (DTI) ratio usually below 43%. You will also be required to make a down payment of at least 3.5% up to 10%, depending on your credit score. It's best to submit a prequalification request to determine if you meet the requirements for this government-backed loan.

The cost of refinancing your mortgage varies depending on your lender, location, and loan details. Typically, refinancing costs range from 2% to 6% of your total loan amount. Most lenders will allow you to roll the closing costs into the new loan, but you'll pay interest on the closing costs over the life of your loan. Try our mortgage calculators.

Guiding you home with confidence.

Mortgage Calculator
Figure out the total financial impact of homeownership.
Home Loan Rates
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Mortgage Resource Center
All the resources you need, right at your fingertips.
How to Brace for Rising Home Costs
Learn how to mitigate the financial impact on your budget.
Money Market Account
Grow Your Balance with Higher Rates

Earn more on higher balances while keeping your funds accessible.

Invest in a better mortgage.

Handbook on Adjustable Rate Mortgages
Adjustable Rate Pricing Disclosure
Home Mortgage Disclosure Act (HMDA) Notice

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