Occupied Property loan vs Non-Occupied Property Loan
Posted 12-13-2011 at 03:16 PM by gusares
I would like to here some comments on this one!
I have the opportunity to buy a house, I don't own a house, however, I think it is a good investment since is cheap and has tenant already. Since it has tenant, it is going to be paid by it self.
However, the problem is that I dont have enough money in the bank to get the "investment loan", (I can get the owner occupied prop loan, which is lower interest rate).
The tricky part is this: is possible to apply for the Owned-occupied property and rented???
Does someone out there did this ???
it is commun???
I dont own a property so it will appear as my principal property.
Does anyone know how to deal with this situation?
I appreciate your comments.
Thank you
I have the opportunity to buy a house, I don't own a house, however, I think it is a good investment since is cheap and has tenant already. Since it has tenant, it is going to be paid by it self.
However, the problem is that I dont have enough money in the bank to get the "investment loan", (I can get the owner occupied prop loan, which is lower interest rate).
The tricky part is this: is possible to apply for the Owned-occupied property and rented???
Does someone out there did this ???
it is commun???
I dont own a property so it will appear as my principal property.
Does anyone know how to deal with this situation?
I appreciate your comments.
Thank you
Total Comments 1
Comments
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What is the % on the loan right now that banks are giving for a morgage???
Hi Guys
I would like to know which would be a fair and good % for a morgage??
I got a 4.25% in a period of 20 year morgage loan. Is that good?
Where should I go to get a better one?.
I'm new on all of this, however I can see that they try to satisfy the client as fast as they can, without giving time to even ask very basic questions!!!
I appreciate your comments!!!Posted 12-16-2011 at 12:32 PM by gusares
