All Forum Posts by: Yohanna Bell

@Chris Mason  LOL "Evil twin" Im so happy I posted here I didn't think that sounded right because that would mean most people would not be able to purchase more the 2 properties. I'm not going to accept his answer and will call multiple places until I get my yes. He sure put on a act.  Thanks for the laugh

Thank you for replying @Stephanie P. and @Eric Veronica I will contact  a Mortgage Broker and I will look into finding a Portfolio lender (I never heard of this lol)  Your responses are very helpful The Finance company I contacted told me I wouldn't be able to use the Rent if I rented out the property I own now or the Rent from the new property until it had been rented out for a entire Year and on my tax returns with no losses. If im able to apply 75%  of the rent that would make this process much better and I could possible qualify for a bigger property that produces more Income.  Thank you all very much

Good Morning Need help understanding Financing Properties.

I would like to get started with Rental Properties but how can I take out mortgages when I already own a property I am willing to move into a property if thats what it takes. but I am confused about how to qualify for more than one mortgage or what types of loans I can get to do so.

heres my situation I have a single family home Im willing to rent and refinance my current home. I contacted a mortgage company and they stated to qualify for an additional mortgage I am able to go up to 50% of our income with the expenses I have now mortgage and student loan plus a new property but they wont count in Rental Income unless its been a year. So I guess my question is how would I be able to get more than 1 property if its always based on 50% of your 9 to 5 debt ratio.
I see some properties between 30k to 50k and multi families from 100k to 150k. I would like to have more than 1 income property
if I took out a mortgage that was about 1200 to bring my to 50% then how would I ever be able to get additional properties. Hope someone can help me understand I dont see this explained anywhere

How to qualify for multiple mortgages or ways to buy additional properties?