Zillow Advice: Home Ownership - Its been 2 years and i want to buy a second home and rent the first home out http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ Zillow Advice | Zillow Real Estate Future InvestorEach purchase ... http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ Future Investor<br/><br/>Each purchase varies the future potential rental income can usually be used in order to help you qualify for the additional home.<br/><br/>The key would be to contact someone that has investor experience because they will have the most expense dealing with lenders complicated requirements.<br/><br/>You may also want to consider getting your property evaluated as the market has taken leaps and bounds up over the past year and you might be surprised with amount of equity you currently have.<br/><br/>My team has been working with investors the past 15+ years and would be glad to help you moving forward. Sat, 24 Aug 2013 19:36:00 GMT http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ 2013-08-24T19:36:00Z You may have a little problem ... http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ You may have a little problem with this, I had a recent conversation with a loan officer about this for another person...<br/>The rule changed about 5 years ago that you have to have 25% equity in your current home to purchase your second, or be able to qualify for the payments on both properties... This is because many people were buying new homes and dropping their first properties because they owed more than it was worth... <br/>Once you have the equity in the first home, then you merely have to qualify for the second home.<br/>Best of luck to you.<br/> Wed, 24 Apr 2013 15:09:00 GMT http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ 2013-04-24T15:09:00Z [Promotion and hotlink removed ... http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ [Promotion and hotlink removed by Zillow moderator. Please see our&nbsp;<u><a style="text-align: right;" href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a></u>.] Wed, 24 Apr 2013 13:25:00 GMT http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ 2013-04-24T13:25:00Z The first step is to call ... http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ The first step is to call a local lender, usually the bank that gave you a loan on your first house might give you a break for your business on the 2nd home. Since you are wanting to buy another home to make your primary residence there is a good chance they might not require 5% down, it doesn't&nbsp; hurt to ask, I always say. Good luck in your search and I hope you find wht you are looking for.<br/><br/>Stacy Good&nbsp; Tue, 23 Apr 2013 22:19:00 GMT http://www.zillow.com/advice-thread/Its-been-2-years-and-i-want-to-buy-a-second-home-and-rent-the-first-home-out/489273/ 2013-04-23T22:19:00Z