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Updated about 8 years ago on . Most recent reply
Qualifying for second property
HI, I have been lurking on the forum for a while but never posted. so, first of all thank you for the tons of information. My plan is to build out a real estate portfolio gradually over the next few years and these will be mostly rentals only. I started with a duplex through house hacking and FHA so now I am looking forward to completely rent out to my duplex and buy a property for my own. Here are some of my question
- I already have an FHA loan but I was not married that time so my wife can get an FHA loan loan, is that correct?
- How do I estimate for how much loan she can qualify? considering I pay all utilities and bill so she does not have any debt and have a stable job.
- When I did FHA, I was asked for funds in bank account which were 2-3 months old, is that an FHA loan only requirement or is the 2-3 month only requirement for the conventional as well.
On a side note I wanted to keep buy the property under a business name, any pointers if I go that route, how do I get started?