Hello all, we are considering purchasing two out of state properties. One will be our second home and the other will be an investment property. Both homes are new construction and the first one will be completed this June with the second in November. We have no debt, and good credit. One is 462k and the other is 569k. With this background, does anyone know if we will run into any trouble with lenders getting a mortgage one after another? The first home loan will be structured as an investment property with the second purchased 5 months later as a second home.
Second home can go under your personal name. Investment property can go commercial loan if residential mortgage lender denies your loan. Commercial loan can be used to purchase investment property and it will not go to your personal credit report, so won't affect your personal DTI.