All Forum Posts by: Vivek Jalahalli

Thanks for your reply...

I am in California Bay area and initial would be interested to make investments around my area, so that maintenance is easy. Here prices of house are pretty high but still good for investment in long run up, with assured rental returns.

Called up one of the bank and they mentioned that even after taking balance transfers from multiple cards, they will look at whether I'm capable of making 5% payments on those cards. Eligibility is based on whether my earnings satisfy their requirements and Balance transfers they will take it as 5% payment if I can make.

If I get balance transfer from 3 cards totally $30K and then add up my personal savings of  $30K , totaling $60K to make a 20% downpayment for $300K rental investment.

Does banks have problem providing mortgage loans ? if they see me taking 30K on balance transfer 

Credit report will obviously show my balance transfer amount. Banks might ask what is this for?

Is it GOOD or BAD on my credit ?

any advice on getting cash for down payments ? 

Balance transfer that I'm getting from 3 cards are as 0% for next 18months with 3% service fee initially.