New Member from East Hartford, CT
Hello BP,
My name is Chyna and I bought my first 3 family home at 22. It has been a year and 9 months after purchase and I am interested in purchasing another.
Current situation
I recently moved back home with my mom to increase my income and pursue my education full time ... I currently earn an income of $4100 off of the property and my mortgage is $1670. I do have other bills and my current monthly debt to income ratio is at about 50%. I recently started working part time adding about $1600 to my income
My question for you is...
How would I go about financing my next purchase, what do most lenders want to see? Will they count my rental income and if so how much? What is a good amount of savings to have ? I would like information on traditional and creative ways of financing this purchase ... thank you