Updated over 16 years ago on . Most recent reply
Army Joe needs some help
Help!:)
Im a currently in the Army and am getting ready to make an offer on a fourplex and use my VA Loan- no money down.
However, I have also found a duplex that I think would be an excellent investment.
I would like to go ahead and by 4plex and purchase duplex (they want 66500) for.
What is the process for getting an investor loan? Can I do this while in the process of getting another loan? My problem is that I can only afford 10% down on this property and was wondering if this would be a problem?
Does anybody know of a good mortgage investment broker?
Would it be better to offer something like 6000 down and have owner finance at 7%?
Need any help anyone can provide:)
Thank you everyone!
Most Popular Reply
Gary, Welcome to BP! I am in the Army too, and use this site every single day to learn from. YOu can use a VA loan as a regular loan, as long as you live in one of the 4 units. You will get the great VA rate, and you can most likely easily have your mortgage paid by the other 3 units, as well as collecting BAH. Seems like a great start for you. Good Luck!
Claude