Updated over 14 years ago on . Most recent reply
Need a second loan.
Hi,
My aunt makes about 40k a year and she purchase a house that runs around 200k. She has tenants that is paying her entire mortgage for that house. It is a 2 unit house she lives in the back and the renters live in the front. She wants to buy another house as soon as possible so she can rent it out again. She has down payment for a second house but do you know
A. If they will let her borrow again (get 2 mortgages for 2 different houses? Because she does have income from the renters to pay off the first house.
B. She has enough downpayment to pay for the second house.How can she buy a second house asap?
Thank you again.