All Forum Posts by: Jef A.

I have recently paid off my home and i am now looking for another home. Since i own my first home free and clear when i go to get a mortgage on my next home would they consider that a second home and change the terms on the loan? I am hoping that because i have paid my first home off i can purchase the next home as a normal/traditional home loan with no increased fees or larger down payment required because.

THanks in advance

ok thanks for the information.

I have a home currently that i recently paid off and i am now looking for some rental property. I would like some advice regarding the questions that i should be asking these lenders. I want to make sure i dont miss something big that might bite me in the future. So far i have reached out to quicken loans and have been told that for investment property they require 25% down payment. Is this norm? Is Quicken a good resource for investment homes or should i be looking into other companies that target investors?

Thanks in advance