Newbie Loan Question

[Kevin Izquierdo]

I was told theres no such thing as a dumb question, so here goes: If i want to buy a house for 200k, can I get two 100k loans from different places? If so, can they be consolidated so I pay once? Feel free to fill in the gaps of knowledge, I have a lot to learn.

[Bill Hamilton]

The answer is basically no. No one will want to be in second position on that type of loan. Also, if you are buying an investment property the max LTV will probably run around 80%. But talking to a good mortgage broker is the right way to start. They can tell you what is currently available. And you can simply ask the mortgage broker to lay out what loan options there are based on your current situation and what type of property you are trying to acquire. If you still have questions just ask them. Most decent brokers won't care that you aren't deeply learned in mortgages. That is their job and how they make money.