Posted by Bob on September 21, 2003 at 17:11:55:
You should easily be able to prequalify for another house - see you mortgage broker. The trick will be to stretch your $14,000 as far as possible, and perhaps even your current house’s equity, so that you can buy more than one more house if you want to.
Here’s my situation… what next? - Posted by J.L.
Posted by J.L. on September 21, 2003 at 09:29:59:
I have a new home that I bought 3 months ago, I didn’t have to sell my previous home because I had excellent credit(over 800 in fico score) and some savings that I used to buy the new home, so I’ve been renting the previous home, I have about $ 188.00 monthly positive cash flow from the rent and I also have $ 37,000 in equity in that home and $14,000 in savings , my goal is to buy more homes either for rent or to resell…my question is… with my situation what are my options? I want to start looking for new properties, but I would like to have the funds pre-approved and available to me in order to make the purchase. THANKS