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Updated about 10 years ago on . Most recent reply

User Stats

57
Posts
6
Votes
Albert Melo
  • Palm Springs, CA
6
Votes |
57
Posts

Second Mortgage

Albert Melo
  • Palm Springs, CA
Posted
I'm buying my first property. I want to live in it for a year, fix it up, and do vacation rental on it. After a year I want to buy a second property that I can live in. My lender says that I could qualify for a conventional or an fha for my first property. My question is the following: would it be easier to qualify for a Second mortgage if I get a conventional or fha on my first property? Also, how would choosing the type of loan change if I decide to flip it in a year instead of keeping the property as rental. I know a lot depends on my specific situation, income, etc. but I'm trying to get a general idea of which path to take with choosing the right loan. Thank you

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