Want to buy a new house and convert your existing home to an - TopicsExpress



          

Want to buy a new house and convert your existing home to an investment property? What are the rules for financing?... Answer: * In order to use the rental income as qualifying criteria, you much have a fully executed lease agreement and security deposit already deposited, and 2 months worth of payments for both houses as a cushion if the investment home has a 70% or less Loan to Value ratio. If more than 70%, you must qualify with both monthly payments and 6 months worth of payments as cushion. Call me for more information to determine if this might be a good strategy for you to take advantage of our strong market!
Posted on: Fri, 21 Mar 2014 20:16:26 +0000

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