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Updated over 7 years ago on . Most recent reply

User Stats

24
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16
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Michaelina Stathakos
  • Real Estate Investor
  • Houston, TX
16
Votes |
24
Posts

Who can help figure out my Borrowing Power

Michaelina Stathakos
  • Real Estate Investor
  • Houston, TX
Posted

Hello Biggerpockets Community, 

I need your advice...who can I go to to help me figure out my 'borrowing power'? We have 2 small multifamily properties each with small mortgages and generating good income. Plus our own house and it's small mortgage. And a few other credit cards and car loans etc...Anyways I have no clue what I can afford...what price of investment I am looking for. Plus it would be nice to have someone who can project for the future and deal with analysing refinances and or multiple loans. 

Who am I looking for?

Thanks for the advice! 

Most Popular Reply

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1,784
Posts
757
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Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
757
Votes |
1,784
Posts
Shaun Weekes
  • Loan Officer / Processor / Life & Health Agent
  • Rancho Cucamonga, CA
Replied
Originally posted by @Michaelina Stathakos:

Hello Biggerpockets Community, 

I need your advice...who can I go to to help me figure out my 'borrowing power'? We have 2 small multifamily properties each with small mortgages and generating good income. Plus our own house and it's small mortgage. And a few other credit cards and car loans etc...Anyways I have no clue what I can afford...what price of investment I am looking for. Plus it would be nice to have someone who can project for the future and deal with analysing refinances and or multiple loans. 

Who am I looking for?

Thanks for the advice! 

 You will need to get a good loan officer or broker to analyse your 1040's all schedule's to see what you can qualify for.  They will require some additional items potentially but the process shouldn't take more than 24 to 48 hours to find out what you qualify for.  

I hope this helps and have a great day.

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