Is it possible to buy a second home when I am underwater on my first?

Credit and mortgage advice Forums Buying Your Home Buying Your Home Is it possible to buy a second home when I am underwater on my first?

Viewing 0 reply threads


  • Author
    Posts
    • #387587
      Anonymous
      Inactive

      I currently own a home that is worth about $ 450K and I owe $ 550K. I would like to move to another town and buy a home for about $ 600-$ 700K and then rent out my current home. I already have one rental property. I have about $ 120K to put down as a down payment. Will any banks give me a loan for a second home when I am underwater on my first?



Viewing 0 reply threads
  • You must be logged in to reply to this topic.
Register New Account
Reset Password