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Updated over 9 years ago on . Most recent reply

Kevin Beres's profile image
Kevin Beres's profile image
Kevin Beres
  • Investor
  • from Richmond, Virginia
  • Member since Mar 5, 2015
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User Stats

19
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9
Votes
Kevin Beres's profile image
Kevin Beres's profile image
Kevin Beres
  • Investor
  • from Richmond, Virginia
  • Member since Mar 5, 2015
Connect
Kevin Beres
  • Investor
  • Richmond, VA
9
Votes |
19
Posts
Private Lending & Conventional Mortgage Advice

If I am Preapproved for $200K can I get seperate loans totaling this amount?

Kevin Beres
  • Investor
  • Richmond, VA
Posted

Hello everybody. I have a questions about conventional loans for mortgages. I have a preapproval for $200K. As an investment strategy I want to buy two houses, one to live in and one to rent out. If the mortgage for both properties came to under $200K would a bank approve such a thing? How are two seperate mortgages treated compared to one mortgage for the same amount?

If someone could let me know if such a plan is realistic I would be grateful.

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