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Updated almost 12 years ago on . Most recent reply

User Stats

29
Posts
8
Votes
John Giamundo
  • Commack, NY
8
Votes |
29
Posts

to get a conventional investment mortgage what is better?

John Giamundo
  • Commack, NY
Posted

Hello all, one of the things i am wondering as I contemplate how to prepare to get involved in the real estate game is getting a mortgage for an investment property while i already have a hefty home mortgage. I live in NY so everything is expensive. My home mortgage is pretty big, and I have student loans that appear as if they will never go away. I also have some credit card debt. Would I be better served looking to attack my student loans before my credit card debt or does it not matter for mortgage application purposes? A strict interest rate analysis would make this issue a no brainer, the credit cards bear heavier interest burdens. A strict emotional analysis would have me attacking the never ending student loans. But I dont know if the analysis changes when considering future investment property. Love to know what you all think, or if I dont make sense.

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