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Monica Elisson
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How to buy 2nd investment property

Monica Elisson
Posted Jan 15 2022, 03:21

I have 2 mortgages. Investment(20% down payment made) and Primary residence(5% down made and later refinanced for waiving off PMI) both were taken in last 1.5 years in Austin, TX. I can only get 100K mortgage today with my income. How can I can buy my second investment home? How did you all make it?

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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied Jan 15 2022, 06:26

@Monica Elisson
Depending on when you bought your investment property, do a cash-out refi. You could also just find a partner that's more lendable and have them on the loan while you are just on the title and all you have to bring is your portion of down payment depending on how you structure the relationship. 

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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
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Jordan Moorhead
  • Real Estate Agent
  • Austin, TX
Replied Jan 15 2022, 07:30

@Monica Elisson is your lender counting your lease?

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