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Updated over 3 years ago,

User Stats

9
Posts
2
Votes
Eduard Tanasov
  • Knoxville, TN
2
Votes |
9
Posts

Buying my first Property ever, need help

Eduard Tanasov
  • Knoxville, TN
Posted

I just got pre-approved for $450,000 from a lender and want to use that on a duplex rental property. Since I currently live with my dad I need to live in one of the units. I really don't like that idea cause I want to rent out both units. So I was thinking of buying a separate house in the $40k-$90k price range, so I have a primary residence, and use about $150-$250k for my rental. I have enough DTI for $450k so it should be fine... right? I haven't spoken to my lender about this yet but was curious is this something possible for a first time home buyer?

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