Updated almost 5 years ago on . Most recent reply
Vacation rental loan
I am looking at buying a couple of short term vacation rentals in my state. I understand that 10% down is all that is required. I also understand that I am only allowed 1 vacation rental loan per vacation area. I have heard that my wife could be the holder of one note and I could be the holder of another note, bringing the total to 2 properties we could own under this type of loan. I know this is probably a silly question, but if going this method, won't we be greatly limited to the amount of a loan we could get on a property?