Can I get a mortgage to buy a home when I already have a mortgage for a rental property?We own a home that is likely a bit under water. We are renting it out and almost covering our monthly mortgage payment. We had to move for work and are currently renting but are interested in buying as our searches have shown we can get a much bigger, nicer place for a lower monthly payment if we do. What I was hoping to find out is: 1) Will it even be possible for us to qualify for a mortgage? Other than owning the rental house, we are in good shape: we have great credit and are both employed in stable jobs and are able to cover the small difference between the rent we're collecting and our mortgage payment without any trouble. 2) Are the only loans being offered these days requiring 20% down or is it possible to pay less? Thanks in advance.October 08 2011 - Charlottesville00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.