Profile picture for byrnesjosh

What can I do to get more (or better) quotes for my loan request ZR-VQNMRRP?

I'm curious about the process of getting a second mortgage to buy a second home, while we would rent out our primary residence.  What kind of documentation is required to get a second mortgage if we are able to find renters for the first home?  Thank you.
  • December 24 2012 - Doylestown Township
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Answers (1)

Profile picture for wetdawgs
The loan amount you are requesting is too high for the income you've entered into the loan quote request form.  

With a scenario of current homeownership and desiring to rent the current one and buy another home, it is better to talk directly with a lender.   You can find lenders in your area by clicking on "find a pro" in the top line.

Some of the information you'll need when you talk with the lender.

Current value of your current  home & how much you owe.
Down payment on future home.
Income
credit score.  

And the lender is likely to ask a lot more questions!

  • December 24 2012
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