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Buying Investment Property |
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I am considering buying an rehad investment property that is 1/3 of my annual income. I had also planned to buy my first home within the next 2 years.
How will this first mortage affect my ability to get a much larger second mortgage? |
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If your investment property is yielding income, that will count toward qualifying for your next loan. Your big problem might be financing the rehab in the first place -- lenders are tightening up and investment mortgages are more difficult to find these days. |
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Edith
Originally published on July 24, 2008 |
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