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Updated over 10 years ago,
Looking to buy 2 SF Homes using conventional loans. Have Questions
Hi Guys and Gals. Hoping you can point me in the right direction-many questions. I am wanting to buy 2 single family homes using a conventional loan or 2. The two homes will be in different states. My plan is to hold the houses for 2-3yrs. Unsure if I will rent them out at this point. When applying for a loan can I apply as a non investment since I will be living in them as my original intend? Can I get 2 conventional loans? Here is a little financial background: 100K cash, 50K salary, 750+ credit score, current home 220K paid off, and about 35K long term debts-student loan and 5yr car note. I am not going to sell the house I currently own since my parents current live there with me. One of the houses to be purchased will be in the same city as the current home I own. Basically, I am at the beginning to set up my long term real estate buys starting with these two homes. I would like to add more as I go. Also, what conventional mortgage companies are decent? I started my application with PenFed because of great rates but after reading the reviews I got deterred. Sorry about my post being everywhere probably because it's been a long day. Hope this all makes sense.