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Updated over 5 years ago on . Most recent reply

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Account Closed
  • from Dillon
  • Member since Mar 23, 2019
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Account Closed
  • from Dillon
  • Member since Mar 23, 2019
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Account Closed
  • Dillon
0
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3
Posts
Buying & Selling Real Estate

Private residence to rental & the Mortgage

Account Closed
  • Dillon
Posted

I'm having trouble understanding how the follow works, or is done. 

You buy a property with a personal mortgage, and you are there for a couple years. And then you want to keep the property as a rental, and move into another place. Can you keep the same mortgage on the first place, or do you need to refi with a new mortgage because you don't live there anymore and it's an income property? 

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