how to get a mortgage to purches a home to use as a rental. Not how to go about getting a 2nd house

Profile picture for jeanlemon
We have a mortgage on the home we live in and are looking to purches a home that we will rent out. The realtor told me it is hard to get a mortgage to buy a second home. Not sure what I need to do
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February 07 - Battle Creek
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Profile picture for Darrell Self
You need anywhere from 20 to 30 percent down depending on the lender and your credit situation. You should contact a loan officer in your area as you might have some equity in your home that you could use towards that goal.
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February 07
Profile picture for Cindy Quinton
People buy investment properties all the time, so obviously there is a way. How much do you have to invest? How is your credit? I'm thinking these are questions a lender will need to know to direct you.
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February 07
 

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Profile picture for Darrell Self
Questionhow to get a mortgage to purches a home to use as a rental. Not how to go about getting a 2nd house
  • Latest answer by Darrell Self
  • February 07
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