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Updated almost 7 years ago on . Most recent reply

Ryan Davis's profile image
Ryan Davis's profile image
Ryan Davis
  • Investor/Contractor
  • from Moore, SC
  • Member since Aug 31, 2017
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Ryan Davis's profile image
Ryan Davis's profile image
Ryan Davis
  • Investor/Contractor
  • from Moore, SC
  • Member since Aug 31, 2017
Connect
Ryan Davis
  • Investor/Contractor
  • Moore, SC
28
Votes |
54
Posts
Private Lending & Conventional Mortgage Advice

How to prepare for my second deal

Ryan Davis
  • Investor/Contractor
  • Moore, SC
Posted

I have an FHA loan on a duplex where I live already. I am wanting to start preparing for my second deal. I have heard different things about conventional loans.

What percentage down payment should I prepare for? (I have heard anywhere from 5% - 20%) 

What other things will they look for if I were to seek out a second mortgage? Preparation advice? 

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Ryan Davis's profile image
Ryan Davis's profile image
Ryan Davis
  • Investor/Contractor
  • from Moore, SC
  • Member since Aug 31, 2017
Connect

User Stats

54
Posts
28
Votes
Ryan Davis's profile image
Ryan Davis's profile image
Ryan Davis
  • Investor/Contractor
  • from Moore, SC
  • Member since Aug 31, 2017
Connect
Ryan Davis
  • Investor/Contractor
  • Moore, SC
28
Votes |
54
Posts
Ryan Davis
  • Investor/Contractor
  • Moore, SC
Replied

@Jay Helms Thanks for your response. My current FHA is seasoned until April. My DTI ratio is 23.85%.

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