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Updated about 9 years ago,
Financing a rental
I talked to the mortgage lender who helped my wife and I buy our house, and told him I wanted to rent out my current house and buy a new one. He said that I could do so with 5% down, assuming that my wife and I qualify, i.e. can prove that we are able to make two mortgage payments. I have massive student loan debt, but since I plan to rent out one of the houses, I know we won't have trouble making the payments, assuming all goes as it should. Since I don't think we will qualify based on our combined income, is there any other option for us to get another property? We are looking to either rent out our current house or buy a rental.
Thank you!