Posted by Sandy on February 16, 2001 at 20:14:35:
I am buying a house as an OO and want to buy another house as an IP. For the 1st house, I have a 80/15 loan, but I have to be a first time homebuyer to fit into this program (I am). I want to buy the second house 5% down using a no-doc loan. My questions are: Since the properties will close fairly close together, will each lender know about the other? Will it matter? What, if any, problems should I anticipate? I am new to this site and I learned a lot so far. Please help me. If it helps, I live in NY.
Thanks in advance.