along with my home payed for and net 75k per year
2007-07-13 05:08:09 · 6 answers · asked by tndrytime 1 in Business & Finance ➔ Renting & Real Estate
Probably. You sound like an excellent candidate for such a loan, given your income and equity in your current property.
Of course, that would depend on how much of a home you want to purchase. Assuming you don't want a million dollar mansion, you should be in fine shape.
2007-07-13 05:12:23 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Most likely yes, but without at least 20% down, you will have to pay PMI insurance.
And, the more you put down, the less your payment will be.
2007-07-13 05:15:39 · answer #2 · answered by mister_galager 5 · 0⤊ 0⤋
Yeah that is very possible with that fico score as long as it's a purchase and owner occupied. Refinance with cash out highest is usually 95% and an investment property is usually 90%Ltv, with rare cases at 95%. Best thing you can do is find a mortgage broker and have him shop it around.
2007-07-13 06:08:13 · answer #3 · answered by marxistharpist 2 · 0⤊ 2⤋
Most likely YES!
2007-07-13 05:10:41 · answer #4 · answered by Deelite Me! 2 · 0⤊ 0⤋
No...most banks require 20% down no matter what the credit score is.
2007-07-13 05:11:30 · answer #5 · answered by Anonymous · 0⤊ 2⤋
yes, I did with a lower score....
It may just take some time to find the right lender.....
Good Luck!!!!!!!
2007-07-13 05:11:20 · answer #6 · answered by Anonymous · 0⤊ 0⤋