I plan on using my current home as a rental unit. I still have a mortgage. I will profit $500 to $700. The next home I get will be my primary resident. Can you please help me understand how that transition will work?
Hi Destiny! Renting out your home and buying a new primary residence is generally acceptable. Your lender may ask the reason you are purchasing a new primary residence (moving to a bigger house, relocating for work, down sizing etc). Outside of that the only other thing to know is the loan program you’re using to buy the new home will dictate whether you can use the rental income to qualify.
@@MortgageHowDoI I came here for the same question. We will make around 900 a month in renting our current home with tons of equity. Will the next lender consider still hold that mortgage debt against when calculating our next mortgage?
@@roncedad7032 Hello! The answer depends on the loan type you’re taking out. Assuming your new loan is a Fannie Mae or Freddie Mac conforming conventional loan, a portion of the rental income can be used to offset the housing debt (loan payment, homeowners insurance, property taxes and HOA if applicable). The lender may require a copy of the executed lease and documentation showing receipt of the first month’s rent & security deposit on the home you are going to retain and rent out.
Good question. I am in the same boat. My current home is almost paid off and intend to use it as rental. Not sure if my lender can consider my unrealized rent as income.
We just bought our primary residence but in 5 years would like to purchase a vacation home. We are both teachers and don’t make a ton of money but we want to be smart with what we have! What’s the best thing we can do now to prepare to purchase another home in 5 years?
That’s awesome! Congrats! Second Homes currently require a minimum 10% down. Interest rate and discount points are driven by the amount you put down and your credit score. That said, for the best terms, we recommend saving for a 20-30% down payment and doing all you can to keep your credit score at 720+. We’re here to assist if you have questions along the way!
Hi there If I use the second home as primary residence do I have to rent it out first one right before buy the second one or how does it work to lower my debt income ratio
If you’re planning to purchase a new primary residence and rent out your current home, you may be able to use projected rental income to lower your debt-to-income (DTI) ratio. However, if you qualify for the mortgage on your new home without relying on that rental income, you could potentially simplify the process and avoid additional steps. I recommend connecting with a mortgage advisor to review your options, tailor your strategy to your financial goals, and review specific lending guidelines or requirements. Feel free to call or text us at 480-725-0150 if we can be of assistance.
Many homeowners access the equity in real estate they own to use as a down payment purchase more real estate. There are a couple of ways to access equity in one’s home: 1. A cash out refinance if you have a current loan on the property 2. Obtain a Home Equity Line of credit. We can help you determine which option may be best if you’d like to schedule a strategy session to discuss! bit.ly/3vPdTGB
Yes! If you are purchasing an investment property and have a current primary housing payment (rent or mortgage), most loan programs will allow you to use a percentage of the projected rental income to offset the new mortgage payment to help you qualify. The projected rental income used will be provided on the appraisal done at the time of purchase. Let's set up a Loan Strategy Consultation to dive into the details! You can schedule at a time most convenient for you here: bit.ly/3wERfRV
Many homeowners access the equity in real estate they own to use as a down payment purchase more real estate. There are a couple of ways to access equity in one’s home: 1. A cash out refinance if you have a current loan on the property 2. Obtain a Home Equity Line of credit. We can help you determine which option may be best if you’d like to schedule a strategy session to discuss! bit.ly/3vPdTGB
I want to rent my current townhome out and purchase a 2nd home which would be a single family and make that my primary residence. How can I go about doing this?
We recommend getting Pre-Qualified to determine the best loan program and strategy for buying a new primary residence and turning the residence you're departing into a Rental Property. If you would like to talk further, we would love to have a 15 minute consultation. Please schedule at a time most convenient for you here: bit.ly/3wERfRV
I have one primary home in Florida paid off , I want to get another home where it would be me and my daughter going in half on the house. This will be her first home, the home will be in Raleigh, NC. What type of fixed Lon could we get and what kind of insurance will be have to get. We will be able to Put 20% down on home and my daughter will be living in it full time while I visit her a few months out of the year.
Great question! Assuming your daughter will be occupying the home as her primary residence, this sounds like a scenario where using a primary residence, conventional home loan would be a great option. You can be a non-occupant co-borrower which essentially means you will be on the home loan and deed to the home but don’t have to live there full time. With a down payment of 20% you will not have to pay mortgage insurance. However, you will need secure homeowners’ insurance before you close on the home. If you want to talk about this further you can schedule a call with us here: bit.ly/3wERfRV
Great question! Lending guidelines typically don’t dictate whether you manage the property yourself or use a property management company, so you have flexibility in how you handle operations. If you want to use a management company to oversee your property as an Airbnb, you can absolutely do that-it won’t affect your mortgage approval or terms. That said, it’s important to let your lender know about your intended use for the property, as financing options for short-term rentals may differ from traditional second homes or long-term investment properties. Additionally, be sure to review any HOA rules or local regulations related to short-term rentals to ensure compliance. If you have more questions about your financing options or the process, feel free to reach out 480.725.0150-we’re happy to help!
The majority of conforming conventional home loans in the US are sold to the Government-Sponsored Enterprises, Fannie Mae (FNMA) and Freddie Mac (FHLMC). While Fannie and Freddie don’t have a specific distance guideline for a second home in relation to a primary residence, the location of the second home in relation to the primary residence needs to make sense to support a second home property classification. Considering this, each lender sets their own criteria. Some lenders require the second home be a certain distance away from a primary residence and others defer to the specific scenario and explanation. Be sure to explain the reason you’re buying a second home across the street to the lender and they can give guidance on their guidelines relative to your scenario. If you'd like to learn more about our second home guidelines, please schedule a 15-minute consultation with one of our amazing team members: bit.ly/3vPdTGB
One can have up to 10 financed properties with conforming conventional loans but there are other loan programs that will allow for more than 10. Thanks so much for the question!
Assuming you own, or have mostly paid off your current home, take out a home equity line of credit for a much as you can, and buy the 2nd home with that. You're borrowing from yourself, so you skip a lot of hoops the banks put you through. We did it, and we've owned the those for 13 years. Just gave it to our daughter.
We have no mortgage on our primary home. We want to use the equity in our home to purchase a second home as our vacation home and short term rental. Will we also need to save a down payment? Thank you.
Not necessarily! Depending on the value of your current home and the purchase price of your new second home, it's possible the equity you have will be sufficient for a down payment and no additional funds will need to be saved. We would love to schedule a Loan Strategy Consultation to dive into the details! You can schedule a time that is most convenient for you here: bit.ly/3wERfRV
i’m purchasing a new home and my current home is currently in the market for sale. The loan office said that i need to have a CD on current home before i close on the new home. I find this weird. Below is my scenario. - currently home 50% positive equity. i owe 250k currently listed for 490k - new home, putting 10% down My wife and i make more than enough to cover both mortgage if it didn’t sell which is not gonna happen bcos the house was listed last week and we have 4 offers already. What should i do?
I recommend asking the loan officer to outline why they need your house sold first so you can be clear on how they are coming to that conclusion. There are max “debt to income ratio” requirements which could be the issue. If the monthly obligations reporting on your credit, along with your current mortgage & the new mortgage are exceeding the debt to income ratio threshold when divided by your monthly gross income, may be the reason why the lender is requiring your home be sold prior to closing on your new home. If down payment and debt to income aren’t factors, then it’s generally not a requirement.
What is a qualifying credit score to put down only 10%.. I'm being told that I have to put 20% down. And that I don't qualify to put 10% down on a second home. Can you answer that?
Conventional conforming home loan guidelines allow for 10% down with a credit score as low as 620 as long as long as the loan is approved through the automated underwriting system. Depending on the specifics of your credit profile, debt to income ratio, property type and number of months of reserves, the automated underwriting engine may not be approving your loan with only 10% down. Click here to schedule a call and we may be able to give you more guidance: bit.ly/3wERfRV
You can do that! If you already have a 2nd home, you can move into it and rent out your current primary residence. Or, you can purchase a new primary residence and rent our your current, many people are doing this to expand their real estate portfolio! Let us know if you’d like to schedule a call to discuss further! 480.725.0150
You can obtain a mortgage to purchase a new primary residence and then sell your current home, this happens all the time! Many buyers want the next home to move into without selling the current one first, this would be a non-contingent purchase of a new home. The mortgage on your current home will be paid off when the home is sold, you can then take the remaining proceeds to payoff the mortgage on your new home!
Very informative, thanks! My primary house is mortgage free, and I plan on building a 2nd house in another state prior to retiring. My plan is to retire in 2 years then move to that 2nd house and use my equity to pay it off. What loan would you recommend for the 2nd home? I plan on building the home myself on land I already own.
Thanks for you comment! We'd need a little bit more information from you in order to make a recommendation on what would be the best loan for the second home. Please feel free to schedule a quick consultation with us here: ☎️bit.ly/3wERfRV
Thanks for the video! So I can't get a 10% second home loan and have a management company rent it out for me on air b&b even if I live there a couple months a year?
Hi Ryan, here’s the actual verbiage from a 2nd home deed of trust. This is a document you will sign at closing and best outlines what you can do with the property during the first 12 months. Hope this helps! 6. Occupancy. Borrower will occupy and use the Property as Borrower’s second home. Borrower will maintain exclusive control over the occupancy of the Property, including short-term rentals, and will not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or any other person or entity any control over the occupancy or use of the Property. Borrower will keep the Property available primarily as a residence for Borrower’s personal use and enjoyment for at least one year after the date of this Second Home Rider, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.
You can do that, no problem! The new home you are purchasing will actually be considered an owner-occupied home as you’ll be moving into it. You can retain your current home; the current mortgage stays in place as is. 😊 You will need to qualify with both mortgage payments. If you’d like to discuss strategy on this further, please reach out! You can schedule a no-obligation call to discuss those goals with us and we can better help guide you here: bit.ly/3wERfRV
I'm looking to buy a vacation home and str when I'm not using it. So my real estate agent does property mgt for str. Would that be considered investment property then?
Retaining control over the occupancy is the key when financing as a second/vacation home. If this isn’t the case, you may want to consider using an investment property loan.
Hi , please help me on this one We bought first home last year 360k with 20% down and portfolio loan because my wife employment history was 1 year that time and we couldn’t took Conventional so our rate is 9.5 percent . Now the question is can we refinance with 5% down and use the cash out to buy second home or no because now we can approve for conventional loan for both first home and second home ?!
Hello Iman. Conventional home loan guidelines have limits on the maximum loan to value allowed for cash out refinances. However, if you’re purchasing a new primary residence you want to put minimum down, you may consider a 3.50% down FHA home loan or a 5% down conventional home loan. For a more in-depth conversation, please feel free to schedule a 15-minute no obligation consultation with us bit.ly/3wERfRV
Great question! Unfortunately, I won’t be much help to you on this as I’m only familiar with home lending in the United States. I recommend finding an experienced real estate agent in the country you’re interested in purchasing a home in and asking them for a referral to their trusted lenders.
i have such a conservative financial manager all i hear is discouragement i want to move out of a suburb and have the main home back in the city area i need really a more mindfully safer place to live i live near a mountain / santa monica property would be safer in town / city feeling hemmed into a place i am not sure about could rent determined to leave
There’s certainly a lot that goes into a move & purchase. It may be worth checking your options and running numbers to see if purchasing in the city makes sense over renting!
Many homeowners access the equity in real estate they own to use as a down payment purchase more real estate. There are a couple of ways to access equity in one’s home: 1. A cash out refinance if you have a current loan on the property 2. Obtain a Home Equity Line of credit. We can help you determine which option may be best if you’d like to schedule a strategy session to discuss! bit.ly/3vPdTGB
Thank you so much for detailed on the different options . I’m looking to buy a second home with equity. Love content!!
If you have any questions or want to run any scenarios you can schedule a call with us here: bit.ly/3wERfRV or call/text us anytime 480.725.0150!
This was actually super informational / helpful.. thank you for this
Glad it was helpful! Thanks for watching!
I plan on using my current home as a rental unit. I still have a mortgage. I will profit $500 to $700. The next home I get will be my primary resident. Can you please help me understand how that transition will work?
Hi Destiny! Renting out your home and buying a new primary residence is generally acceptable. Your lender may ask the reason you are purchasing a new primary residence (moving to a bigger house, relocating for work, down sizing etc). Outside of that the only other thing to know is the loan program you’re using to buy the new home will dictate whether you can use the rental income to qualify.
Thanks for asking. This is my current situation
@@MortgageHowDoI I came here for the same question. We will make around 900 a month in renting our current home with tons of equity. Will the next lender consider still hold that mortgage debt against when calculating our next mortgage?
@@roncedad7032 Hello! The answer depends on the loan type you’re taking out. Assuming your new loan is a Fannie Mae or Freddie Mac conforming conventional loan, a portion of the rental income can be used to offset the housing debt (loan payment, homeowners insurance, property taxes and HOA if applicable). The lender may require a copy of the executed lease and documentation showing receipt of the first month’s rent & security deposit on the home you are going to retain and rent out.
Good question. I am in the same boat.
My current home is almost paid off and intend to use it as rental. Not sure if my lender can consider my unrealized rent as income.
I like your idea so much on TH-cam video right now
Thanks for watching and leaving a comment.
We just bought our primary residence but in 5 years would like to purchase a vacation home. We are both teachers and don’t make a ton of money but we want to be smart with what we have! What’s the best thing we can do now to prepare to purchase another home in 5 years?
That’s awesome! Congrats! Second Homes currently require a minimum 10% down. Interest rate and discount points are driven by the amount you put down and your credit score. That said, for the best terms, we recommend saving for a 20-30% down payment and doing all you can to keep your credit score at 720+. We’re here to assist if you have questions along the way!
Very detailed information. Thank you for explaining it so clearly.
Thank you for watching and commenting!
Many things can be done in life if you take your advice
Thanks for watching and leaving a comment.
Hi there
If I use the second home as primary residence do I have to rent it out first one right before buy the second one or how does it work to lower my debt income ratio
If you’re planning to purchase a new primary residence and rent out your current home, you may be able to use projected rental income to lower your debt-to-income (DTI) ratio. However, if you qualify for the mortgage on your new home without relying on that rental income, you could potentially simplify the process and avoid additional steps. I recommend connecting with a mortgage advisor to review your options, tailor your strategy to your financial goals, and review specific lending guidelines or requirements. Feel free to call or text us at 480-725-0150 if we can be of assistance.
Can I bitty the equity out of Ghent first house and put a deposit down towards the second home
Many homeowners access the equity in real estate they own to use as a down payment purchase more real estate. There are a couple of ways to access equity in one’s home: 1. A cash out refinance if you have a current loan on the property 2. Obtain a Home Equity Line of credit. We can help you determine which option may be best if you’d like to schedule a strategy session to discuss! bit.ly/3vPdTGB
If the home is an investment property can I use the potential income from rent to help finance me purchasing the property
Yes! If you are purchasing an investment property and have a current primary housing payment (rent or mortgage), most loan programs will allow you to use a percentage of the projected rental income to offset the new mortgage payment to help you qualify. The projected rental income used will be provided on the appraisal done at the time of purchase. Let's set up a Loan Strategy Consultation to dive into the details! You can schedule at a time most convenient for you here: bit.ly/3wERfRV
Good night I have a 2 family home want to take the equity out of the first home to buy a second home. What is my first step
Many homeowners access the equity in real estate they own to use as a down payment purchase more real estate. There are a couple of ways to access equity in one’s home: 1. A cash out refinance if you have a current loan on the property 2. Obtain a Home Equity Line of credit. We can help you determine which option may be best if you’d like to schedule a strategy session to discuss! bit.ly/3vPdTGB
@@MortgageHowDoI
Yes please
I want to rent my current townhome out and purchase a 2nd home which would be a single family and make that my primary residence. How can I go about doing this?
We recommend getting Pre-Qualified to determine the best loan program and strategy for buying a new primary residence and turning the residence you're departing into a Rental Property. If you would like to talk further, we would love to have a 15 minute consultation. Please schedule at a time most convenient for you here: bit.ly/3wERfRV
I have one primary home in Florida paid off , I want to get another home where it would be me and my daughter going in half on the house. This will be her first home, the home will be in Raleigh, NC. What type of fixed Lon could we get and what kind of insurance will be have to get. We will be able to
Put 20% down on home and my daughter will be living in it full time while I visit her a few months out of the year.
Great question! Assuming your daughter will be occupying the home as her primary residence, this sounds like a scenario where using a primary residence, conventional home loan would be a great option. You can be a non-occupant co-borrower which essentially means you will be on the home loan and deed to the home but don’t have to live there full time. With a down payment of 20% you will not have to pay mortgage insurance. However, you will need secure homeowners’ insurance before you close on the home. If you want to talk about this further you can schedule a call with us here: bit.ly/3wERfRV
@@MortgageHowDoI thank you, will do when ready to buy a home .
what about if you want to have a management company manage it as an airbnb?
Great question! Lending guidelines typically don’t dictate whether you manage the property yourself or use a property management company, so you have flexibility in how you handle operations. If you want to use a management company to oversee your property as an Airbnb, you can absolutely do that-it won’t affect your mortgage approval or terms. That said, it’s important to let your lender know about your intended use for the property, as financing options for short-term rentals may differ from traditional second homes or long-term investment properties. Additionally, be sure to review any HOA rules or local regulations related to short-term rentals to ensure compliance. If you have more questions about your financing options or the process, feel free to reach out 480.725.0150-we’re happy to help!
Very helpful.
Thank you for sharing.
Thank you for watching and commenting! Glad you found this helpful!
Very well said. Thank you
Thanks so much! Glad it was helpful!
Can your second home be across the street from your primary?
The majority of conforming conventional home loans in the US are sold to the Government-Sponsored Enterprises, Fannie Mae (FNMA) and Freddie Mac (FHLMC). While Fannie and Freddie don’t have a specific distance guideline for a second home in relation to a primary residence, the location of the second home in relation to the primary residence needs to make sense to support a second home property classification. Considering this, each lender sets their own criteria. Some lenders require the second home be a certain distance away from a primary residence and others defer to the specific scenario and explanation. Be sure to explain the reason you’re buying a second home across the street to the lender and they can give guidance on their guidelines relative to your scenario.
If you'd like to learn more about our second home guidelines, please schedule a 15-minute consultation with one of our amazing team members: bit.ly/3vPdTGB
@MortgageHowDoI Duh the reason is because it is across the street. Ever heard of the word "convenience".
How many mortgages can you have concurrent using conventional loans?
One can have up to 10 financed properties with conforming conventional loans but there are other loan programs that will allow for more than 10. Thanks so much for the question!
You're welcome thank you for the video content ☺️
Assuming you own, or have mostly paid off your current home, take out a home equity line of credit for a much as you can, and buy the 2nd home with that. You're borrowing from yourself, so you skip a lot of hoops the banks put you through. We did it, and we've owned the those for 13 years. Just gave it to our daughter.
Thank you for watching and leaving a comment. 😊
This was great! Thank you for sharing!
Thank you for watching!
We have no mortgage on our primary home. We want to use the equity in our home to purchase a second home as our vacation home and short term rental. Will we also need to save a down payment? Thank you.
Not necessarily! Depending on the value of your current home and the purchase price of your new second home, it's possible the equity you have will be sufficient for a down payment and no additional funds will need to be saved. We would love to schedule a Loan Strategy Consultation to dive into the details! You can schedule a time that is most convenient for you here: bit.ly/3wERfRV
i’m purchasing a new home and my current home is currently in the market for sale. The loan office said that i need to have a CD on current home before i close on the new home. I find this weird. Below is my scenario.
- currently home 50% positive equity. i owe 250k currently listed for 490k
- new home, putting 10% down
My wife and i make more than enough to cover both mortgage if it didn’t sell which is not gonna happen bcos the house was listed last week and we have 4 offers already. What should i do?
I recommend asking the loan officer to outline why they need your house sold first so you can be clear on how they are coming to that conclusion. There are max “debt to income ratio” requirements which could be the issue. If the monthly obligations reporting on your credit, along with your current mortgage & the new mortgage are exceeding the debt to income ratio threshold when divided by your monthly gross income, may be the reason why the lender is requiring your home be sold prior to closing on your new home. If down payment and debt to income aren’t factors, then it’s generally not a requirement.
What is a qualifying credit score to put down only 10%..
I'm being told that I have to put 20% down. And that I don't qualify to put 10% down on a second home. Can you answer that?
Conventional conforming home loan guidelines allow for 10% down with a credit score as low as 620 as long as long as the loan is approved through the automated underwriting system.
Depending on the specifics of your credit profile, debt to income ratio, property type and number of months of reserves, the automated underwriting engine may not be approving your loan with only 10% down. Click here to schedule a call and we may be able to give you more guidance: bit.ly/3wERfRV
What if i use second home as primary, and first home to rent it out?
You can do that! If you already have a 2nd home, you can move into it and rent out your current primary residence. Or, you can purchase a new primary residence and rent our your current, many people are doing this to expand their real estate portfolio! Let us know if you’d like to schedule a call to discuss further! 480.725.0150
How do I obtain a mortgage to finance a second home and then sell my primary residence to payoff both mortgages?
You can obtain a mortgage to purchase a new primary residence and then sell your current home, this happens all the time! Many buyers want the next home to move into without selling the current one first, this would be a non-contingent purchase of a new home. The mortgage on your current home will be paid off when the home is sold, you can then take the remaining proceeds to payoff the mortgage on your new home!
Very informative, thanks! My primary house is mortgage free, and I plan on building a 2nd house in another state prior to retiring. My plan is to retire in 2 years then move to that 2nd house and use my equity to pay it off. What loan would you recommend for the 2nd home? I plan on building the home myself on land I already own.
Thanks for you comment! We'd need a little bit more information from you in order to make a recommendation on what would be the best loan for the second home. Please feel free to schedule a quick consultation with us here: ☎️bit.ly/3wERfRV
@MortgageHowDoI Meaning... you don't have an answer because no loan lets you do this.
Great video amazing information
Thank you Dwight! Glad it was helpful!
What a great video. Thanks a lot for the info.
Thank you so much Juan!
I learned a lot in a short time! Thank you
Glad it was helpful! Thanks for watching!
Thanks for the video! So I can't get a 10% second home loan and have a management company rent it out for me on air b&b even if I live there a couple months a year?
Hi Ryan, here’s the actual verbiage from a 2nd home deed of trust. This is a document you will sign at closing and best outlines what you can do with the property during the first 12 months. Hope this helps!
6. Occupancy. Borrower will occupy and use the Property as Borrower’s second home. Borrower will maintain exclusive control over the occupancy of the Property, including short-term rentals, and will not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or any other person or entity any control over the occupancy or use of the Property. Borrower will keep the Property available primarily as a residence for Borrower’s personal use and enjoyment for at least one year after the date of this Second Home Rider, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.
Great video thank you!!
Thank you for watching and commenting!!
What if we're purchasing a second to live in but leaving 1st home for your children to reside. But you will remain responsible for both mortgages
You can do that, no problem! The new home you are purchasing will actually be considered an owner-occupied home as you’ll be moving into it. You can retain your current home; the current mortgage stays in place as is. 😊 You will need to qualify with both mortgage payments. If you’d like to discuss strategy on this further, please reach out! You can schedule a no-obligation call to discuss those goals with us and we can better help guide you here: bit.ly/3wERfRV
Can I use you to get a home loan?
We lend in 45 states and would love the opportunity to talk with you. Please schedule a call here bit.ly/3wERfRV or call us at 480-725-0150. Thanks!
I'm looking to buy a vacation home and str when I'm not using it. So my real estate agent does property mgt for str. Would that be considered investment property then?
Retaining control over the occupancy is the key when financing as a second/vacation home. If this isn’t the case, you may want to consider using an investment property loan.
Hi , please help me on this one
We bought first home last year 360k with 20% down and portfolio loan because my wife employment history was 1 year that time and we couldn’t took Conventional so our rate is 9.5 percent . Now the question is can we refinance with 5% down and use the cash out to buy second home or no because now we can approve for conventional loan for both first home and second home ?!
I wanna rent this one and buy bigger house as primary home .
Hello Iman. Conventional home loan guidelines have limits on the maximum loan to value allowed for cash out refinances. However, if you’re purchasing a new primary residence you want to put minimum down, you may consider a 3.50% down FHA home loan or a 5% down conventional home loan. For a more in-depth conversation, please feel free to schedule a 15-minute no obligation consultation with us bit.ly/3wERfRV
Are there restrictions to buying an international vacation home/Airbnb? I hear it may be difficult to get a loan for my country of interest.
Great question! Unfortunately, I won’t be much help to you on this as I’m only familiar with home lending in the United States. I recommend finding an experienced real estate agent in the country you’re interested in purchasing a home in and asking them for a referral to their trusted lenders.
Can you have clients in NY?
Please text our team line at 480-725-0150 and we would be happy to assist with a referral.
i have such a conservative financial manager all i hear is discouragement i want to move out of a suburb and have the main home back in the city area i need really a more mindfully safer place to live i live near a mountain / santa monica property would be safer in town / city feeling hemmed into a place i am not sure about could rent determined to leave
There’s certainly a lot that goes into a move & purchase. It may be worth checking your options and running numbers to see if purchasing in the city makes sense over renting!
The second home will be used as a rental property
Many homeowners access the equity in real estate they own to use as a down payment purchase more real estate. There are a couple of ways to access equity in one’s home: 1. A cash out refinance if you have a current loan on the property 2. Obtain a Home Equity Line of credit. We can help you determine which option may be best if you’d like to schedule a strategy session to discuss! bit.ly/3vPdTGB
I heard Arizona and I immediately subbed lol
Thank you for the sub! 😀
Seeing a 3.5% rate in 2024 hurts.
I know :(
Who wants to have a vacation home in Arizona? 😂…lies…
LOL 😂 You'd be surprised.
This is such valuable information !, thank you so much!
You're welcome! Thank you for watching and leaving a comment!
This was sooo helpful! Thank you
I'm so glad! Thank you for watching and commenting!
This was much helpful. Thank you !
Glad it was helpful! Thank you for watching and leaving a comment.