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km080 · Joined: 29 Apr 2011 Posts: 1 1.29 Dollars($)

we purchased the property adjacent to us and paid cash. we currently have a home with a mortgage, but want to mortgage the other home. what kind of stipulations are there, what kind of loan would be best--mortgage or home equity, is there a waiting period between purchase date and mortgage? we will be receiving income for the property and plan to later sell it.

chrisgummerson · Posted: Fri Apr 29, 2011 3:44 pm Post subject:

This would be a NON Owner occupant loan. As long as you have great credit, verifiable income, and are not taking out more than 60% of the value, you wont notice much of a difference to the rate from a owner occupied home. You can contact me to discuss further. We are a direct lender, FHA and Conventional products. Good Luck!

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what do i need to know about getting a mortgage on a home i recently purchased with cash? i currenly own one property with a mortgage.

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