Forgotten Your Password?

Need to Register?

Question Icon

Best way to qualify for a 3rd home. First 2 mortgages are under my name.

Husband doesnt have any mortgages under his name but I don't think he'll qualify with his part time income (he's a student too). What the best program for us? by noodles635 from Iron River, Wisconsin. Jan 20th 2021 Reply


SEAN WRIGHT (LANDMARKMORT)
#6 ranked lender in Wisconsin - 50 contributions

Usually a 3rd home would be considered an Investment property. Are you really living in 3 separate homes?Sounds like I need more information to make a sound decision on what / who is on this new house.Call, reply, or go to my website for additional questions.

Jan 20th 2021
0
0
Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,211 contributions

The same way you qualify for one home loan. Adequate credit, sufficient income to service your existing debt plus the new debt. Work with a Licensed Loan Originator to see what you qualify for. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

Jan 20th 2021
0
0
Tom Lewis (Tom@Cardinal)
#15 ranked lender in Alabama - 22 contributions

That really depends on the use of the other property's financed and the location of the property's. For example, if one property is an investment home and you intend to use one as a second home or investment, then you could treat the new home as primary (or other options). You would need to discuss this in detail with your loan officer to find the appropriate options for you. If I can be of assistance please don't hesitate to reach out anytime.

Jan 21st 2021
0
0
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,265 contributions

We are missing way too much information to give a good response. I suggest just calling a lender, give them a basic application, and then they can zero in on your personal options. I lend in Wisconsin, Minnesota, Iowa, North Dakota, and South Dakota. Find me at WI-MortgageBroker.com - Cambria Mortgage, NMLS 274132

Jan 22nd 2021
0
0
Subscribe to our news feed.