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Updated almost 8 years ago on . Most recent reply

John Burke's profile image
John Burke's profile image
John Burke
  • Architect
  • from West Babylon, New York
  • Member since Apr 7, 2017
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John Burke's profile image
John Burke's profile image
John Burke
  • Architect
  • from West Babylon, New York
  • Member since Apr 7, 2017
Connect
John Burke
  • Architect
  • West Babylon, NY
0
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5
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Buying & Selling Real Estate

Mortgages for investment rentals

John Burke
  • Architect
  • West Babylon, NY
Posted

Hi getting ready to buy my first rental with 20% down and Reno cost in hand. Will I be able to obtain a mortgage if I have 2 current mortgages and a home equity loan. I was told if my rent is 125% to 150% of my mortgage payment it should not be an issue. Is this true? I plan to purchase it under an llc. Any advice would be great 

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