Updated almost 6 years ago on . Most recent reply
Where to go and what to bring - pre-approval for a 2nd mortgage
My wife and I own a home that we could easily rent out and we have our eye on a bigger home with more acreage. In order to get pre-approved for a second mortgage, what information will the lender be looking for? Would rental comps (for our current home) in the area help? Where would be the first place you'd go to get pre-approved? Mortgage broker? Small Community Bank? Large Bank?
Thanks in advance for your help!